New Issue: RBC prices $14.34 million Accelerated Return Notes on basket of three finance stocks

By William Gullotti

Buffalo, N.Y., Jan. 30 – Royal Bank of Canada priced $14.34 million of 0% Accelerated Return Notes due March 28, 2025 linked to a basket of three stocks, according to a 424B2 filing with the Securities and Exchange Commission.

The basket consists of Goldman Sachs Group, Inc. with a 33.34% weight, JPMorgan Chase & Co. with a 33.33% weight and Morgan Stanley with a 33.33% weight.

The payout at maturity will be par of $10 plus 300% of any basket gain, subject to a maximum return of 24.06%. 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. (33.34% weight), JPMorgan Chase & Co. (33.33% weight), Morgan Stanley (33.33% weight)
Amount:	$14,342,780
Maturity:	March 28, 2025
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 300% of any basket gain, capped at 24.06%; otherwise, exposure to any basket decline
Initial share prices:	$382.70 for Goldman Sachs, $172.94 for JPMorgan, $88.02 for Morgan Stanley
Pricing date:	Jan. 25
Settlement date:	Feb. 1
Agent:	BofA Securities, Inc.
Fees:	1.75%
Cusip:	78074B631

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