New Issue: RBC prices $4.96 million absolute return notes tied to index, fund

By Susanna Moon

Chicago, Jan. 30 – Royal Bank of Canada priced $4.96 million of 0% absolute return buffered enhanced return notes due Jan. 26, 2024 linked to the least performing of the Euro Stoxx 50 index and the iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.

If each underlying component finishes above the initial level, the payout at maturity will be par plus 217% of gain of the worse performing component.

If either component falls by up to 25%, the payout will be par plus the absolute value of the return of the worse performing component.

Otherwise, investors will lose 1% for each 1% decline of the worse performing component beyond 25%.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Absolute return buffered enhanced return notes
Underlying assets:	Euro Stoxx 50 index, iShares MSCI EAFE ETF
Amount:	$4,964,000
Maturity:	Jan. 26, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If each component gains, par plus 217% of return worse performing component; if either component falls by up to 25%, par plus absolute return of worse performing component; otherwise, 1% loss per 1% drop of worse performing component beyond 25%
Initial levels:	3,672.29 for Stoxx and $74.75 for EAFE fund
Barrier levels:	2,754.22 for Stoxx and $56.06 for EAFE fund; 75% of initial levels
Pricing date:	Jan. 23
Settlement date:	Jan. 26
Underwriter:	RBC Capital Markets, LLC
Fees:	3%
Cusip:	78013XEL8

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