New Issue: RBC prices $100,000 capped barrier return enhanced notes on Elanco Animal Health

By William Gullotti

Buffalo, N.Y., Oct. 12 – Royal Bank of Canada priced $100,000 of 0% capped barrier return enhanced notes due Aug. 10, 2022 linked to the stock performance of Elanco Animal Health Inc., according to a 424B2 filing with the Securities and Exchange Commission.

If the stock’s final level is greater than or equal to its initial level, the payout at maturity will be par plus double the return, subject to a maximum payout of par plus 21.5%.

If the stock declines but finishes at or above its 85% barrier value, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% decline from initial level.

RBC Capital Markets, LLC is the agent. JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the placement agents.

Issuer:	Royal Bank of Canada
Issue:	Capped barrier return enhanced notes
Underlying stock:	Elanco Animal Health Inc.
Amount:	$100,000
Maturity:	Aug. 10, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	If the stock’s final level is greater than or equal to its initial level, the payout at maturity will be par plus two times the return capped at 21.5%; if the stock declines but finishes at or above barrier level, par; otherwise, lose 1% for every 1% decline from initial level
Initial level:	$36.50
Barrier value:	$31.03; 85% of initial level
Pricing date:	July 23
Settlement date:	July 28
Agent:	RBC Capital Markets, LLC
Placement agents:	JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
Fees:	1%
Cusip:	78016EMR5

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