New Issue: RBC prices $6.56 million buffer gears linked to Nikkei 225

By William Gullotti

Buffalo, N.Y., Aug. 9 – Royal Bank of Canada priced $6.56 million of 0% buffer gears due July 31, 2030 linked to the Nikkei 225 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus 2.28 times any index gain.

Investors will receive par if the index falls by no more than 25% and lose 1% for every 1% of index decline beyond 25%.

RBC Capital Markets, LLC and UBS Financial Services Inc. are the agents.

Issuer:	Royal Bank of Canada
Issue:	Buffer gears
Underlying index:	Nikkei 225 index
Amount:	$6,555,000
Maturity:	July 31, 2030
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 2.28 times any index gain; if index declines but finishes at or above buffer level, par; otherwise, lose 1% for every 1% decline beyond 25%
Initial level:	32,891.16
Buffer level:	24,668.37; 75% of initial level
Pricing date:	July 27
Settlement date:	July 29
Agents:	RBC Capital Markets, LLC and UBS Financial Services Inc.
Fees:	3.5%
Cusip:	78016M661

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