By Wendy Van Sickle
Columbus, Ohio, June 14 – Royal Bank of Canada priced $7.11 million of 8.35% autocallable geared buffered notes due Dec. 11, 2024 linked to the Russell 2000 index and the iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable semiannually.
The notes will be called at par plus the coupon if each asset closes at or above its initial level on any semiannual valuation date.
If each asset finishes at or above its initial level, the payout will be par plus the coupon.
If any asset falls by up to 25%, the payout will be par.
Otherwise, investors will lose 1.333% for every 1% decline of the worst performing asset beyond 25%.
RBC Capital Markets, LLC is the underwriter.
| Issuer: | Royal Bank of Canada
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| Issue: | Autocallable geared buffered notes
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| Underlying assets: | Russell 2000 index and iShares MSCI EAFE ETF
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| Amount: | $7,112,000
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| Maturity: | Dec. 11, 2024
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| Coupon: | 8.35%, payable semiannually
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| Price: | Par
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| Payout at maturity: | Par plus coupon if each asset finishes at or above initial level; par if laggard asset declines by up to 25%; 1.333% loss for every 1% decline of laggard asset beyond 25%
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| Call: | Automatically at par plus coupon if each asset closes at or above its initial level on any semiannual valuation date
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| Initial asset level: | 1,855.401 for Russell, $72.83 for iShares MSCI EAFE
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| Buffer level: | 1,391.551 for Russell, $54.62 for iShares MSCI EAFE, 75% of initial level
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| Strike date: | June 6
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| Pricing date: | June 8
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| Settlement date: | June 13
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| Underwriter: | RBC Capital Markets, LLC
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| Fees: | 0.0653%
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| Cusip: | 78016NGZ4
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