New Issue: RBC prices $5.58 million 5.25% geared buffered reverse convertibles on index, fund

By Susanna Moon

Chicago, July 31 – Royal Bank of Canada priced $5.58 million of 5.25% geared buffered reverse convertible notes due Oct. 30, 2019 linked to the worse performing of the iShares MSCI EAFE ETF and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par unless either asset falls by more than 20%, in which case investors will be fully exposed to any losses of the worse performing index beyond the geared buffer.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Geared buffer reverse convertible notes
Underlying assets:	iShares MSCI EAFE ETF, Russell 2000 index
Amount:	$5,575,000
Maturity:	Oct. 30, 2019
Contingent coupon:	5.25%, payable monthly
Price:	Par
Payout at maturity:	Par unless either asset falls by more than 20%, in which case 1.25% loss per 1% decline beyond 20%
Initial prices:	1,685.203 for index and $68.98 for fund
Barrier prices:	1,348.162 for index and $55.18 for fund, 80% of initial levels
Pricing date:	July 26
Settlement date:	July 30
Agent:	RBC Capital Markets, LLC
Fees:	None
Cusip:	78013XQV3

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