New Issue: RBC prices $1.07 million barrier absolute enhanced return notes linked to Stoxx

By William Gullotti

Buffalo, N.Y., May 24 – Royal Bank of Canada priced $1.07 million of barrier absolute enhanced return notes due May 24, 2028 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes at or above its initial level, the payout at maturity will be par plus 155% of the index return.

If the index declines up to the barrier level, 60% of the initial index level, the payout will be par plus the absolute value of the index return.

Otherwise, investors will lose 1% for every 1% decline of the index from its initial level.

RBC Capital Markets LLC is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Barrier absolute enhanced return notes
Underlying index:	Euro Stoxx 50 index
Amount:	$1,071,000
Maturity:	May 24, 2028
Coupon:	0%
Price:	Par
Payout at maturity:	If index finishes at or above its initial level, par plus 155% of the index return; if index declines by no more than 40%, par plus absolute value of index return; otherwise, full exposure to the index’s decline from its initial level
Initial index level:	4,395.3
Barrier level:	2,637.18; 60% of initial level
Pricing date:	May 19
Settlement date:	May 24
Underwriter:	RBC Capital Markets LLC
Fees:	None
Cusip:	78016NAJ6

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