New Issue: RBC prices $5.98 million PLUS linked to a basket of financial stocks

By William Gullotti

Buffalo, N.Y., April 25 – Royal Bank of Canada priced $5.98 million of 0% Performance Leveraged Upside Securities due Oct. 2, 2025 linked to an equally weighted basket of stocks, according to a 424B2 filing with the Securities and Exchange Commission.

The basket consists of Bank of America Corp., Goldman Sachs Group, Inc., JPMorgan Chase & Co. and Charles Schwab Corp.

If the basket return is positive, the payout at maturity will be par plus 300% of the basket gain, subject to a maximum return of par plus 29.15%.

Investors will be fully exposed to any basket decline.

RBC Capital Markets, LLC is the agent with Morgan Stanley Wealth Management as dealer.

Issuer:	Royal Bank of Canada
Issue:	Performance Leveraged Upside Securities
Underlying basket:	Bank of America Corp., Goldman Sachs Group, Inc., JPMorgan Chase & Co., Charles Schwab Corp.; equal weights
Amount:	$5,984,000
Maturity:	Oct. 2, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 300% of any basket gain, capped at par plus 29.15%; full exposure to basket decline
Initial levels:	$37.92 for BofA, $417.69 for Goldman Sachs, $200.30 for JPMorgan, $72.34 for Charles Schwab
Pricing date:	March 28
Settlement date:	April 3
Agent:	RBC Capital Markets, LLC
Dealer:	Morgan Stanley Wealth Management
Fees:	2.5%
Cusip:	78017FNC3

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