New Issue: RBC prices $7.29 million market-linked step-up notes on Euro Stoxx 50

By Wendy Van Sickle

Columbus, Ohio, May 3 – Royal Bank of Canada priced $7.29 million of 0% market-linked step-up notes due June 27, 2024 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes above the step-up level, 116.56% of the initial level, the payout at maturity will be par plus the index return.

If the index finishes flat or gains up to the step-up level, the payout will be par plus the step-up payment of 16.56%.

Investors will be fully exposed to any index decline.

BofA Securities, Inc. is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Market-linked step-up notes
Underlying index:	Euro Stoxx 50 index
Amount:	$7,288,030
Maturity:	June 27, 2024
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If the index finishes above the step-up level, par plus the index return; if the index finishes at or below the step-up level but at or above the initial level, par plus 16.56%; otherwise, lose 1% for every 1% decline from initial level
Initial level:	4,358.05
Step-up level:	5,079.74; 116.56% of initial level
Pricing date:	April 27
Settlement date:	May 4
Underwriter:	BofA Securities, Inc.
Fees:	1.75%
Cusip:	78074B870

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