New Issue: RBC prices $5 million trigger PLUS notes linked to weighted ETF basket

By William Gullotti

Buffalo, N.Y., Oct. 26 – Royal Bank of Canada priced $5 million of 0% trigger Performance Leveraged Upside Securities due Sept. 21, 2027 linked to a weighted basket of ETFs, according to a 424B2 filing with the Securities and Exchange Commission.

The basket consists of the iShares MSCI India ETF with a 45% weight, the iShares MSCI Mexico ETF with a 20% weight, the iShares MSCI Brazil ETF with a 20% weight and the iShares China Large-Cap ETF with a 15% weight.

The payout at maturity will be par of $10 plus 130% of any basket gain.

Investors will receive par if the basket falls by up to 15% and will be fully exposed to any losses if the basket finishes below its 85% trigger level.

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

Issuer:	Royal Bank of Canada
Issue:	Trigger Performance Leveraged Upside Securities
Underlying funds:	iShares MSCI India ETF (45% weight), iShares MSCI Mexico ETF (20% weight), iShares MSCI Brazil ETF (20% weight), iShares China Large-Cap ETF (15% weight)
Amount:	$5 million
Maturity:	Sept. 21, 2027
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 130% of any basket gain; par if basket falls by up to 15% of initial level; otherwise, full exposure to basket decline from initial level
Initial levels:	$43.13 for India, $45.96 for Mexico, $30.00 for Brazil, $27.99 for China
Trigger level:	85% of initial level
Pricing date:	Sept. 16
Settlement date:	Sept. 21
Agent:	RBC Capital Markets, LLC
Dealer:	Morgan Stanley Wealth Management
Fees:	3.5%
Cusip:	78016D554

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