New Issue: RBC prices $882,000 absolute return buffered notes on iShares EAFE, Euro Stoxx

By Tali Rackner

Minneapolis, March 6 – Royal Bank of Canada priced $882,000 of 0% absolute return buffered enhanced return securities due Aug. 26, 2022 linked to the iShares MSCI EAFE exchange-traded fund and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par of $1,000 plus 2.15 times the gain of the lower-performing asset.

If either asset falls by up to 20%, the payout will be par plus the absolute value of lesser-performing asset’s return.

Otherwise, investors will lose 1% for every 1% decline of the lesser-performing asset beyond 20%.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Absolute return buffered enhanced return securities
Underlying assets:	iShares MSCI EAFE ETF, Euro Stoxx 50 index
Amount:	$882,000
Maturity:	Aug. 26, 2022
Coupon:	0%
Price:	Par of $1,000
Payout at maturity:	If each asset finishes positive, par plus 2.15 times the gain of lesser-performing asset; if either asset falls by up to 20%, par plus absolute value of lesser-performing asset’s return; otherwise, 1% loss for every 1% decline of lesser-performing asset
Initial levels:	$71.34 for iShares EAFE, 3,441.46 for Stoxx
Buffer levels:	$57.07 for iShares EAFE, 2,753.17 for Stoxx, 80% of initial levels
Pricing date:	Feb. 23
Settlement date:	Feb. 28
Agent:	RBC Capital Markets, LLC
Fees:	3%
Cusip:	78013XEW4

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