New Issue: RBC prices $29.71 million Accelerated Return Notes on basket of bank stocks

By Wendy Van Sickle

Columbus, Ohio, March 29 – Royal Bank of Canada priced $29.71 million of 0% Accelerated Return Notes due May 26, 2023 linked to a basket of financial sector stocks, according to a 424B2 filing with the Securities and Exchange Commission.

The approximately equally weighted basket consists of Goldman Sachs Group, Inc., JPMorgan Chase & Co. and Morgan Stanley.

The payout at maturity will be par of $10 plus 300% of any basket gain, capped at par plus 25.77%. Investors will be exposed to any basket decline.

BofA Securities, Inc. is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Accelerated Return Notes
Underlying stocks:	Goldman Sachs Group, Inc. (Symbol: GS) with a 33.33% weight, JPMorgan Chase & Co. (Symbol: JPM) with a 33.33% weight and Morgan Stanley (Symbol: MS) with a 33.34% weight
Amount:	$29,714,110
Maturity:	May 26, 2023
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 300% of any basket gain, capped at par plus 25.77%; otherwise, exposure to any basket decline
Initial share prices:	$336.23 for Goldman, $140.69 for JPMorgan, $92.13 for Morgan Stanley
Pricing date:	March 24
Settlement date:	March 31
Agent:	BofA Securities, Inc.
Fees:	1.75%
Cusip:	78015B674

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