New Issue: RBC sells $362,000 buffered enhanced return notes on iShares EAFE ETF

By Marisa Wong

Morgantown, W.Va., May 7 – Royal Bank of Canada priced $362,000 of 0% buffered enhanced return notes due April 30, 2020 linked to the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 1.5 times any fund gain, up to a maximum return of 15%.

Investors will receive par if the fund falls by up to 23.45% and will lose 1% for each 1% decline beyond the 23.45% buffer.

RBC Capital Markets LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Buffered enhanced return notes
Underlying ETF:	iShares MSCI EAFE ETF
Amount:	$362,000
Maturity:	April 30, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	If ETF return is positive, par plus 150% of ETF return, subject to 15% maximum return; par if ETF declines by 23.45% or less; 1% loss for every 1% that ETF may decline beyond 23.45%
Initial share price:	$70.55
Buffer price:	$54.01, 76.55% of initial price
Pricing date:	April 25
Settlement date:	April 30
Underwriter:	RBC Capital Markets, LLC
Fees:	None
Cusip:	78013XJL3

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