New Issue: RBC sells $15.09 million Accelerated Return Notes on VanEck Vectors Semiconductor

By Wendy Van Sickle

Columbus, Ohio, Aug. 3 – Royal Bank of Canada priced $15.09 million of 0% Accelerated Return Notes due Sept. 30, 2022 linked to the VanEck Vectors Semiconductor ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus triple any ETF gain, capped at par plus 21.15%. Investors will be exposed to any ETF decline.

BofA Securities, Inc. is the agent.

Issuer:	Royal Bank of Canada
Issue:	Accelerated Return Notes
Underlying ETF:	VanEck Vectors Semiconductor ETF
Amount:	$15,087,510
Maturity:	Sept. 30, 2022
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 300% of any ETF gain, capped at par plus 21.15%; exposure to any ETF decline
Initial value:	$261.81
Final value:	Average of ETF’s closing prices on five trading days ending Sept. 27, 2022
Pricing date:	July 29
Settlement date:	Aug. 5
Underwriter:	BofA Securities, Inc.
Fees:	1.75%
Cusip:	78014T346

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