By Marisa Wong
Morgantown, W.Va., June 14 – Royal Bank of Canada priced $1.5 million of 0% buffered enhanced return notes due June 1, 2021 linked to the lesser performing of the iShares MSCI EAFE exchange-traded fund and the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any gain in the lesser-performing fund.
Investors will receive par if the lesser-performing fund falls by up to 20% and will lose 1% for each 1% decline of the lesser-performing fund beyond 20%.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
|
| Issue: | Buffered enhanced return notes
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| Underlying ETFs: | iShares MSCI EAFE ETF and iShares MSCI Emerging Markets ETF
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| Amount: | $1.5 million
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| Maturity: | June 1, 2021
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus any gain in lesser-performing fund; par if lesser-performing fund falls by 20% or less; 1% loss per 1% decline of lesser-performing fund beyond 20%
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| Initial prices: | $66.05 for EAFE, $41.74 for EM
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| Pricing date: | May 26
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| Settlement date: | May 31
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| Underwriter: | RBC Capital Markets, LLC
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| Fees: | 2.75%
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| Cusip: | 78012KU88
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