New Issue: RBC prices $4.77 million trigger callable yield notes on iShares Russell 2000 ETF

By Wendy Van Sickle

Columbus, Ohio, April 27 – Royal Bank of Canada priced $4.77 million of 4.15% trigger callable yield notes due July 12, 2022 linked to the iShares Russell 2000 ETF, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The notes are callable at par of $10 on any monthly call date after three months.

The payout at maturity will be par unless the ETF finishes below its 65% downside threshold level, in which case investors will lose 1% for each 1% decline of the ETF.

UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.

Issuer:	Royal Bank of Canada
Issue:	Trigger callable yield notes
Underlying ETF:	iShares Russell 2000 ETF
Amount:	$4,765,500
Maturity:	July 12, 2022
Coupon:	4.15% per year, payable monthly
Price:	Par of $10
Payout at maturity:	Par unless ETF finishes below downside threshold, in which case 1% loss for each 1% decline of ETF
Call option:	At par on any coupon date starting in July
Initial level:	$220.69
Downside threshold:	$143.45, 65% of initial level
Pricing date:	April 7
Settlement date:	April 12
Underwriter:	UBS Financial Services Inc. and RBC Capital Markets, LLC
Fees:	1%
Cusip:	78014M796

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