New Issue: RBC sells $26.51 million Accelerated Return Notes on Euro Stoxx 50

By William Gullotti

Buffalo, N.Y., May 3 – Royal Bank of Canada priced $26.51 million of 0% Accelerated Return Notes due June 30, 2023 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

RBC sold 2,652,517 units with a face amount of $10 each, for a total principal amount of $26,525,170. The issuer sold 300,590 units to an individual investor at $9.95 per unit and the remainder to the public at par of $10, for total proceeds of $26,510,140.50.

The payout at maturity will be par of $10 plus triple any index gain, capped at par plus 29.25%.

Investors will be exposed to any index decline.

BofA Securities, Inc. is the agent.

Issuer:	Royal Bank of Canada
Issue:	Accelerated Return Notes
Underlying index:	Euro Stoxx 50 index
Principal amount:	$26,525,170
Proceeds:	$26,510,140.50
Maturity:	June 30, 2023
Coupon:	0%
Price:	$9.95 per unit for 300,590 units; par of $10 for remainder
Payout at maturity:	Par plus 300% of any index gain, capped at par plus 29.25%; otherwise, full exposure to any index decline
Initial value:	3,777.02
Final value:	Average of index’s closing levels on five trading days ending June 27, 2023
Pricing date:	April 28
Settlement date:	May 5
Underwriter:	BofA Securities, Inc.
Fees:	1.25% for 300,590 units; 1.75% for remainder
Cusip:	78015B591

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