New Issue: RBC prices $16.68 million digital notes linked to MSCI EAFE

By Wendy Van Sickle

Columbus, Ohio, Sept. 3 – Royal Bank of Canada priced $16.68 million of 0% digital notes due April 30, 2020 linked to the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.

If the ETF return is greater than or equal to negative 20%, the payout at maturity will be $1,073 per $1,000 principal amount of notes. Otherwise, investors will lose 1.25% for every 1% that the ETF declines beyond 20%.

RBC Capital Markets LLC is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Digital notes
Underlying ETF:	SPDR S&P Oil & Gas Exploration & Production ETF
Amount:	$16,675,000
Maturity:	April 30, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	If ETF return is greater than or equal to negative 20%, $1,073 per $1,000 principal amount of notes; otherwise, 1.25% loss for every 1% that ETF declines beyond 20%
Initial level:	$21.97
Pricing date:	Aug. 29
Settlement date:	Sept. 6
Underwriter:	RBC Capital Markets LLC
Fees:	0.67%
Cusip:	78015KBN3

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