New Issue: RBC prices $6.19 million market-linked step-up notes on Euro Stoxx 50

By Wendy Van Sickle

Columbus, Ohio, Sept. 12 – Royal Bank of Canada priced $6.19 million of 0% market-linked step-up notes due Oct. 24, 2019 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index increases above the step-up value, 115.1% of the initial value, the payout at maturity will be par plus any gain in the index.

If the index is flat or increases up to the step-up value, the payout will be par plus a fixed return of 15.1%.

Investors will be exposed to any declines in the index.

BofA Merrill Lynch is the agent.

Issuer:	Royal Bank of Canada
Issue:	Market-linked step-up notes
Underlying index:	Euro Stoxx 50
Amount:	$6,186,590
Maturity:	Oct. 24, 2019
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If the index finishes above the step-up level, par plus the index gain; if the index gains up to the step-up level, par plus 15.1%; exposure to any decline
Initial level:	3,430.99
Step-up value:	3,949.07, 115.1% of initial level
Pricing date:	Aug. 30
Settlement date:	Sept. 7
Underwriter:	BofA Merrill Lynch
Fees:	2%
Cusip:	78014F635

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