New Issue: RBC prices $22.02 million capped gears on Energy Select Sector fund

By Marisa Wong

Morgantown, W.Va., Dec. 9 – Royal Bank of Canada priced $22.02 million of 0% capped gears due Feb. 28, 2018 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 of $10 plus triple any fund gain, up to a maximum return of 21%.

Investors will be exposed to any losses.

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

Issuer:	Royal Bank of Canada
Issue:	Capped gears
Underlying fund:	Energy Select Sector SPDR fund
Amount:	$22,021,000
Maturity:	Feb. 28, 2018
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 3 times any fund gain, capped at 21%; exposure to any losses
Initial price:	$75.49
Pricing date:	Dec. 5
Settlement date:	Dec. 8
Agents:	UBS Financial Services Inc. and RBC Capital Markets, LLC
Fees:	2%
Cusip:	78014E125

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