New Issue: RBC prices $10.23 million dual directional trigger participation securities on Euro Stoxx 50

New York, Aug. 16 – Royal Bank of Canada priced $10.23 million of 0% dual directional trigger participation securities due Sept. 13, 2024 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index gains, the payout at maturity will be par plus the return of the index subject to a maximum return of par plus 21.5%. Investors will receive par plus 100% of the absolute value of the index return if the index declines but ends at or above its 85% trigger and will lose 1% for every 1% that the index declines if it finishes below its trigger.

RBC Capital Markets, LLC is the agent. Morgan Stanley Wealth Management will act as placement agent.

Issuer:	Royal Bank of Canada
Issue:	Dual directional trigger participation securities
Underlying index:	Euro Stoxx 50 index
Amount:	$10,225,000
Maturity:	Sept. 13, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If index gains par plus index return subject to a maximum return of par plus 21.5%; par plus 100% of absolute value of index return if index declines but ends at or above the 85% trigger; 1% loss for every 1% that index declines if it finishes below its trigger
Initial levels:	4,384.04
Trigger level:	3,726.43, 85% of initial level
Cap:	21.5%
Pricing date:	Aug. 10
Settlement date:	Aug. 15
Agent:	RBC Capital Markets, LLC
Distributor:	Morgan Stanley Wealth Management
Fees:	2.25% including a structuring fee of 0.5%
Cusip:	78016NUH8

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