New Issue: RBC sells $680,000 barrier absolute return notes on index, ETF

By Sarah Lizee

Olympia, Wash., Feb. 27 – Royal Bank of Canada priced $680,000 of 0% barrier absolute return notes due Feb. 29, 2024 linked to the worse performing of the iShares MSCI Emerging Markets ETF and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

If each asset finishes at or above its initial level, the payout at maturity will be par plus 230% of the return of the lesser performing asset.

If the lesser performing asset falls but ends at or above 60% of its initial level, the payout will be par plus the absolute value of the return of the lesser performing asset.

If the lesser performing asset ends below 60% of its initial level, investors will lose 1% for every 1% decline of the lesser performing asset below its initial level.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Barrier absolute return notes
Underlying indexes:	iShares MSCI Emerging Markets ETF, Euro Stoxx 50 index
Amount:	$680,000
Maturity:	Feb. 29, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 230% any gain of the lesser performing asset; par plus absolute value of return of lesser performing asset if it falls but ends at or above 60% of initial level; otherwise, full exposure to decline of worse performing asset from its initial level
Initial levels:	3,280.01 for index, $43.52 for ETF
Barrier levels:	1,968.01 for index, $26.11 for ETF; 60% of initial levels
Pricing date:	Feb. 25
Settlement date:	Feb. 28
Underwriter:	RBC Capital Markets, LLC
Fees:	3.25%
Cusip:	78013XYX0

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