RBC to sell buffered enhanced return notes tied to iShares MSCI EAFE

New York, May 16 – Royal Bank of Canada plans to price 0% buffered enhanced return notes due June 3, 2020 linked to the iShares MSCI EAFE exchange-traded fund, according to an FWP 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 par plus 15%.

Investors will receive par if the fund falls by up to 23% to 26% and will lose 1% for each 1% decline beyond the 23% to 26% buffer. The exact buffer will be set at pricing.

RBC Capital Markets LLC is the agent.

The notes will price on May 29 and settle on May 31.

The Cusip number is 78013XLF3.

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