New Issue: RBC prices $12.54 million trigger absolute return step notes on Stoxx

By Sarah Lizee

Olympia, Wash., April 1 – Royal Bank of Canada priced $12.54 million of 0% trigger absolute return step securities due March 28, 2024 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 the greater of the gain and the step return of 53.35%.

If the index falls but finishes at or above the 70% downside threshold, the payout will be par plus the absolute value of the return. Otherwise, investors will be fully exposed to any losses.

RBC Capital Markets, LLC and UBS Financial Services Inc. are the agents.

Issuer:	Royal Bank of Canada
Issue:	Trigger absolute return step securities
Underlying index:	Euro Stoxx 50
Amount:	$12,541,980
Maturity:	March 28, 2024
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If index gains, par plus the greater of the gain and the step return of 53.35%; if index falls but finishes at or above downside threshold, par plus absolute value of the return; otherwise, full exposure to any losses
Initial level:	3,322.04
Downside threshold:	2,325.43, 70% of initial level
Pricing date:	March 27
Settlement date:	March 29
Agents:	RBC Capital Markets, LLC and UBS Financial Services Inc.
Fees:	3.5%
Cusip:	78014H300

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