New Issue: RBC sells $2.44 million leveraged buffered notes linked to iShares Global Clean Energy

By Wendy Van Sickle

Columbus, Ohio, May 21 – Royal Bank of Canada priced $2.44 million of 0% market-linked securities due Nov. 6, 2023 – leveraged upside participation to a cap and fixed percentage buffered downside linked to the iShares Global Clean Energy ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 1.25 times any ETF gain, up to par plus 30%. If the ETF falls by up to 20%, the payout will be par. Investors will have exposure to the losses beyond 20%, if any.

Wells Fargo Securities, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Market linked securities – leveraged upside participation to a cap and fixed percentage buffered downside
Underlying ETF:	iShares Global Clean Energy ETF
Amount:	$2.44 million
Maturity:	Nov. 6, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If ETF finishes above initial level, par plus 1.25 times ETF return, subject to maximum return of 30%; if ETF falls by up to 20%, par; 1% loss for each 1% decline beyond 20%
Initial level:	$23.24
Buffer level:	$18.592, 80% of initial level
Pricing date:	April 30
Settlement date:	May 5
Agent:	Wells Fargo Securities, LLC
Fees:	2.975%
Cusip:	78016ERQ2

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