New Issue: RBC prices $1.36 million contingent coupon buffered notes linked to two stocks

By William Gullotti

Buffalo, N.Y., March 13 – Royal Bank of Canada priced $1.36 million of contingent coupon buffered notes due March 10, 2026 linked to the stock performance of Caterpillar Inc. and Deere & Co., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a quarterly coupon at an annual rate of 7.9% if each stock closes at or above its coupon barrier level, 50% of its initial level, on the observation date for that period.

The payout at maturity will be par plus the final coupon unless either stock finishes below the 75% trigger level, in which case investors will lose 1% for each 1% that the lesser-performing stock declines below 25%.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Contingent coupon buffered notes
Underlying stocks:	Caterpillar Inc., Deere & Co.
Amount:	$1,356,000
Maturity:	March 10, 2026
Coupon:	7.9%, payable quarterly if each stock closes at or above coupon barrier level on observation date for that period
Price:	Par
Payout at maturity:	Par plus coupon unless either stock finishes below trigger level, in which case investors will lose 1% for each 1% that the lesser-performing stock finishes beyond 25%
Initial levels:	$333.53 for Caterpillar, $366.73 for Deere
Coupon barriers:	$166.77 for Caterpillar, $183.37 for Deere; 50% of initial levels
Trigger levels:	$250.15 for Caterpillar, $275.05 for Deere; 75% of initial levels
Strike date:	March 5
Pricing date:	March 6
Settlement date:	March 11
Agent:	RBC Capital Markets, LLC
Fees:	0.4%
Cusip:	78017FM91

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