New Issue: RBC prices $1.15 million geared buffered notes tied to iShares MSCI EAFE

By Susanna Moon

Chicago, Dec. 22 – Royal Bank of Canada priced $1.15 million of 0% geared buffered enhanced return notes due June 11, 2020 linked to the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the fund finishes at or above the initial level, the payout at maturity will be par plus 1.5 times the gain, up to a maximum return of 29.67%.

If the index falls by up to 15%, the payout will be par.

Otherwise, investors will lose 1.1765% for each 1% decline beyond 15%.

RBC Capital Markets, LLC is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Geared buffered enhanced return notes
Underlying fund:	iShares MSCI EAFE ETF
Amount:	$1.15 million
Maturity:	June 11, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	If fund gains, par plus 150% of return, capped at 29.67%; if fund falls by up to 15%, par; otherwise, 1.1765% loss per 1% decline beyond 15%
Initial level:	$69.84
Barrier level:	$59.36, 85% of initial level
Pricing date:	Dec. 8
Settlement date:	Dec. 13
Underwriter:	RBC Capital Markets, LLC
Fees:	None
Cusip:	78013XCB2

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