New Issue: RBC sells $587,000 barrier enhanced return notes on energy fund

By Kiku Steinfeld

Chicago, Feb. 22 – Royal Bank of Canada priced $587,000 of 0% barrier enhanced return notes due Feb. 15, 2023 linked to the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 200% of any fund gain, capped at par plus 57%.

Investors will receive par if the fund falls by up to 20%. Otherwise, investors will receive a number of shares of the fund equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Barrier enhanced return notes
Underlying ETF:	Energy Select Sector SPDR fund
Amount:	$587,000
Maturity:	Feb. 15, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 200% of any fund gain, capped at par plus 57%; par if fund falls by up to 20%; otherwise, investors will receive 22.37 Energy Select shares or cash equivalent
Initial price:	$44.71
Barrier price:	$35.77 or 80% of initial price
Pricing date:	Feb. 10
Settlement date:	Feb. 16
Agent:	RBC Capital Markets, LLC
Fees:	1.75%
Cusip:	78016EDC8

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