New Issue: RBC sells $823,000 barrier return notes linked to iShares MSCI EAFE

By Wendy Van Sickle

Columbus, Ohio, May 2 – Royal Bank of Canada priced $823,000 of 0% barrier return notes due April 29, 2022 linked to the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the ETF return is positive, the payout at maturity will be par plus 102% of the ETF return.

If the ETF return is between zero and negative 50%, inclusive, the payout will be par. If the ETF return is less than negative 50%, investors will lose 1% for every 1% that the ETF declines from its initial level.

RBC Capital Markets LLC is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Barrier return notes
Underlying ETF:	iShares MSCI EAFE
Amount:	$823,000
Maturity:	April 29, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	If the ETF return is positive, par plus 102% of ETF return; if the ETF return is between zero and negative 50%, inclusive, par; if the ETF return is less than negative 50%, 1% loss for every 1% that the ETF declines from its initial level
Initial level:	$63.81
Barrier level:	$31.91, 50% of initial level
Pricing date:	April 26
Settlement date:	April 28
Agent:	RBC Capital Markets, LLC
Fees:	3.25%
Cusip:	78012KH83

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