Obligation Royal Bank of Canada 0% ( US78012KV619 ) en USD

Royal Bank of Canada

100 % ▼

Canada

US78012KV619 ( en USD )

30/06/2022 - Obligation échue

Prospectus brochure de l'obligation Royal Bank of Canada US78012KV619 en USD 0%, échue

1 000 USD

2 175 000 USD

78012KV61

N/A

La Banque Royale du Canada (RBC) est une institution financière multinationale canadienne offrant une large gamme de services financiers, incluant les services bancaires aux particuliers et aux entreprises, la gestion de patrimoine, les marchés des capitaux et l'assurance.

L'Obligation émise par Royal Bank of Canada ( Canada ) , en USD, avec le code ISIN US78012KV619, paye un coupon de 0% par an.
Le paiement des coupons est semestriel et la maturité de l'Obligation est le 30/06/2022

424B2 1 form424b2.htm SX5E BARRIER BOOSTER
RBC Ca pit a l M a rk e t s®
File d Pursua nt t o Rule 4 2 4 (b)(2 )
Re gist ra t ion St a t e m e nt N o. 3 3 3 -
2 0 8 5 0 7

Pricing Supplement
$2,175,000
Barrier Booster Notes
Dated June 27, 2017
Linked to the EURO STOXX 50®
To the Product Prospectus Supplement ERN-EI-1 Dated January 12,
Index,
2016, Prospectus Supplement Dated January 8, 2016, and Prospectus
Dated January 8, 2016
Due June 30, 2022
Royal Bank of Canada

Royal Bank of Canada is offering the Barrier Booster Notes (the "Notes") linked to the performance of the EURO STOXX 50® Index (the "Reference Asset").
The CUSIP number for the Notes is 78012KV61. If the Final Level is greater than the Initial Level but the Percentage Change does not exceed the Booster
Percentage of 55.50%, the Notes provide a fixed return equal to the Principal Amount plus the Booster Coupon. If the Final Level is greater than the Initial
Level and the Percentage Change exceeds the Booster Percentage of 55.50%, the Notes provide a one-for-one positive return based upon the increase in
the level of the Reference Asset. If the Final Level is less than the Barrier Level (70.00% of the Initial Level), you will receive an amount at maturity that is
proportionate to the decrease in the Reference Asset over the term of the Notes, and you may lose up to 100% of your initial investment. Any payments on
the Notes are subject to our credit risk.
Booster Coupon: 55.50%
Issue Date: June 30, 2017
Maturity Date: June 30, 2022
The Notes do not pay interest. The Notes will not be listed on any securities exchange.
Investing in the Notes involves a number of risks. See "Risk Factors" beginning on page S-1 of the prospectus supplement dated January 8, 2016,
"Additional Risk Factors Specific to the Notes" beginning on page PS-4 of the product prospectus supplement dated January 12, 2016, and "Selected Risk
Considerations" beginning on page P-6 of this pricing supplement.
The Notes will not constitute deposits insured by the Canada Deposit Insurance Corporation, the U.S. Federal Deposit Insurance Corporation or any other
Canadian or U.S. government agency or instrumentality.
Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined that
this pricing supplement is truthful or complete. Any representation to the contrary is a criminal offense.

Per Note

Total
Price to public(1)
100.00%

$2,175,000.00
Underwriting discounts and commissions(1)
3.25%

$70,687.50
Proceeds to Royal Bank of Canada
96.75%

$2,104,312.50
(1) Certain dealers who purchase the Notes for sale to certain fee-based advisory accounts may forego some or all of their underwriting discount or selling concessions.
The public offering price for investors purchasing the Notes in these accounts may be between $967.50 and $1,000 per $1,000 in principal amount.
The initial estimated value of the Notes as of the date of this pricing supplement is $925.40 per $1,000 in principal amount, which is less than the price to
public. The actual value of the Notes at any time will reflect many factors, cannot be predicted with accuracy, and may be less than this amount. We
describe our determination of the initial estimated value in more detail below.
RBC Capital Markets, LLC, which we refer to as RBCCM, acting as agent for Royal Bank of Canada, received a commission of $32.50 per $1,000 in
principal amount of the Notes and used a portion of that commission to allow selling concessions to other dealers of up to $32.50 per $1,000 in principal
amount of the Notes. The other dealers may forgo, in their sole discretion, some or all of their selling concessions. See "Supplemental Plan of Distribution
(Conflicts of Interest)" below.
We may use this pricing supplement in the initial sale of the Notes. In addition, RBCCM or another of our affiliates may use this pricing supplement in a
market-making transaction in the Notes after their initial sale. Unless we or our agent informs the purchaser otherwise in the confirmation of sale, this
pricing supplement is being used in a market-making transaction.

RBC Capital Markets, LLC

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Barrier Booster Notes
Linked to the EURO STOXX 50®
Index,
Due June 30, 2022

SU M M ARY
The information in this "Summary" section is qualified by the more detailed information set forth in this pricing supplement, the
product prospectus supplement, the prospectus supplement, and the prospectus.

Issuer:
Royal Bank of Canada ("Royal Bank")

Issue:
Senior Global Medium-Term Notes, Series G

Underwriter:
RBC Capital Markets, LLC ("RBCCM")

Reference Asset:
EURO STOXX 50® Index

Bloomberg Ticker:
SX5E

Currency:
U.S. Dollars

Minimum
$1,000 and minimum denominations of $1,000 in excess thereof
Investment:

Pricing Date:
June 27, 2017

Issue Date:
June 30, 2017

CUSIP:
78012KV61

Valuation Date:
June 27, 2022

Payment at Maturity
If, on the Valuation Date, the Percentage Change is posit ive , but does not exceed the Booster
(if held to maturity):
Percentage, then the investor will receive an amount equal to the principal amount plus the Booster
Coupon.
If, on the Valuation Date, the Percentage Change is greater than the Booster Percentage, then the
investor will receive an amount equal to:

Principal Amount + (Principal Amount x Percentage Change)

If, on the Valuation Date, the Percentage Change is le ss t ha n or e qua l t o 0 % , but not by
m ore t ha n the Barrier Percentage (that is, the Percentage Change is between zero and -30.00%),
then the investor will receive the principal amount only.
If, on the Valuation Date, the Percentage Change is ne ga t ive , by m ore t ha n the Barrier
Percentage (that is, the Percentage Change is between -30.01% and -100%), then the investor will
receive a cash payment equal to:
Principal Amount + (Principal Amount x Percentage Change)
In this case, you will lose all or a portion of the principal amount of the Notes.

Percentage Change:
The Percentage Change, expressed as a percentage, is calculated using the following formula:

Initial Level:
3,538.32, which was the closing level of the Reference Asset on the Pricing Date.

Final Level:
The closing level of the Reference Asset on the Valuation Date.

Booster Percentage:
55.50%
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P-2
RBC Capital Markets, LLC

Barrier Booster Notes
Linked to the EURO STOXX 50®
Index,
Due June 30, 2022

Booster Coupon:
55.50% of the principal amount

Barrier Percentage:
30.00%

Barrier Level:
2,476.82, which is 70.00% of the Initial Level (rounded to two decimal places)

Maturity Date:
June 30, 2022, subject to extension for market and other disruptions, as described in the product
prospectus supplement dated January 12, 2016.

Term:
Approximately five (5) years

Principal at Risk:
T he N ot e s a re NOT princ ipa l prot e c t e d. Y ou m a y lose a ll or a subst a nt ia l port ion of
your princ ipa l a m ount a t m a t urit y if t he re is a pe rc e nt a ge de c re a se from t he I nit ia l
Le ve l t o t he Fina l Le ve l of m ore t ha n 3 0 .0 0 % .

Calculation Agent:
RBCCM

U.S. Tax Treatment:
By purchasing a Note, each holder agrees (in the absence of a change in law, an administrative
determination or a judicial ruling to the contrary) to treat the Note as a pre-paid cash-settled derivative
contract for U.S. federal income tax purposes. However, the U.S. federal income tax consequences of
your investment in the Notes are uncertain and the Internal Revenue Service could assert that the
Notes should be taxed in a manner that is different from that described in the preceding sentence.
Please see the discussion (including the opinion of our counsel Morrison & Foerster LLP) in the
product prospectus supplement dated January 12, 2016 under "Supplemental Discussion of U.S.
Federal Income Tax Consequences," and the discussion below under "Supplemental Discussion of
U.S. Federal Income Tax Consequences," which apply to the Notes.

Secondary Market:
RBCCM (or one of its affiliates), though not obligated to do so, plans to maintain a secondary market
in the Notes after the Issue Date. T he a m ount t ha t you m a y re c e ive upon sa le of your
N ot e s prior t o m a t urit y m a y be le ss t ha n t he princ ipa l a m ount of your N ot e s.

Listing:
The Notes will not be listed on any securities exchange.

Clearance and
DTC global (including through its indirect participants Euroclear and Clearstream, Luxembourg as
Settlement:
described under "Description of Debt Securities--Ownership and Book-Entry Issuance" in the
prospectus dated January 8, 2016).

Terms Incorporated
All of the terms appearing above the item captioned "Secondary Market" on pages P-2 and P-3 of this
in the Master Note:
pricing supplement and the terms appearing under the caption "General Terms of the Notes" in the
product prospectus supplement dated January 12, 2016, as modified by this pricing supplement.

P-3
RBC Capital Markets, LLC

Barrier Booster Notes
Linked to the EURO STOXX 50®
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Index,
Due June 30, 2022

ADDI T I ON AL T ERM S OF Y OU R N OT ES
You should read this pricing supplement together with the prospectus dated January 8, 2016, as supplemented by the prospectus
supplement dated January 8, 2016 and the product prospectus supplement dated January 12, 2016, relating to our Senior Global
Medium-Term Notes, Series G, of which these Notes are a part. Capitalized terms used but not defined in this pricing supplement
will have the meanings given to them in the product prospectus supplement. In the event of any conflict, this pricing supplement
will control. The Notes vary from the terms described in the product prospectus supplement in several important ways. You
should read this pric ing supple m e nt carefully.
This pricing supplement, together with the documents listed below, contains the terms of the Notes and supersedes all prior or
contemporaneous oral statements as well as any other written materials including preliminary or indicative pricing terms,
correspondence, trade ideas, structures for implementation, sample structures, brochures or other educational materials of ours.
You should carefully consider, among other things, the matters set forth in "Risk Factors" in the prospectus supplement dated
January 8, 2016 and "Additional Risk Factors Specific to the Notes" in the product prospectus supplement dated January 12, 2016,
as the Notes involve risks not associated with conventional debt securities. We urge you to consult your investment, legal, tax,
accounting and other advisors before you invest in the Notes. You may access these documents on the Securities and Exchange
Commission (the "SEC") website at www.sec.gov as follows (or if that address has changed, by reviewing our filings for the relevant
date on the SEC website):
Prospectus dated January 8, 2016:
http://www.sec.gov/Archives/edgar/data/1000275/000121465916008810/j18160424b3.htm
Prospectus Supplement dated January 8, 2016:
http://www.sec.gov/Archives/edgar/data/1000275/000121465916008811/p14150424b3.htm
Product Prospectus Supplement ERN-EI-1 dated January 12, 2016:
https://www.sec.gov/Archives/edgar/data/1000275/000114036116047560/form424b5.htm
Our Central Index Key, or CIK, on the SEC website is 1000275. As used in this pricing supplement, "we," "us," or "our" refers to
Royal Bank of Canada.

P-4
RBC Capital Markets, LLC

Barrier Booster Notes
Linked to the EURO STOXX 50®
Index,
Due June 30, 2022

H Y POT H ET I CAL RET U RN S
The examples set out below are included for illustration purposes only. The hypot he t ic a l Percentage Changes of the Reference
Asset used to illustrate the calculation of the Payment at Maturity (rounded to two decimal places) are not estimates or forecasts of
the Final Level or the level of the Reference Asset on any trading day prior to the Maturity Date. All examples assume that a
holder purchased Notes with an aggregate principal amount of $1,000 and are based on the Barrier Percentage of 30.00% (the
Barrier Level is 70.00% of the Initial Level), the Booster Percentage of 55.50%, the Booster Coupon of 55.50% of the principal
amount, and that no market disruption event occurs on the Valuation Date.

Example 1--
Calculation of the Payment at Maturity where the Percentage Change is positive, but less than the Booster
Percentage.

Percentage Change:
5%
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Payment at Maturity:
$1,000 + ($1,000 x 55.50%) = $1,000 + $555.00] = $1,555.00

On a $1,000 investment, a 5% Percentage Change results in a Payment at Maturity of $1,555.00, a 55.50%
return on the Notes.

Example 2--
Calculation of the Payment at Maturity where the Percentage Change is positive and exceeds the Booster
Percentage.

Percentage Change:
65%

Payment at Maturity:
$1,000 + ($1,000 x 65%) = $1,000 + $650 = $1,650

On a $1,000 investment, a 65% Percentage Change results in a Payment at Maturity of $1,650, a 65% return on
the Notes.

Example 3--
Calculation of the Payment at Maturity where the Percentage Change is negative (but not by more than the
Barrier Percentage).

Percentage Change:
-10%

Payment at Maturity:
At maturity, if the Percentage Change is negative BUT not by more than the Barrier
Percentage, then the Payment at Maturity will equal the principal amount.

On a $1,000 investment, a -10.00% Percentage Change results in a Payment at Maturity of $1,000,
a 0% return on the Notes.

Example 4--
Calculation of the Payment at Maturity where the Percentage Change is negative (by more than the Barrier
Percentage).

Percentage Change:
-35%

Payment at Maturity:
$1,000 + ($1,000 x -35%) = $1,000 - $350.00 = $650.00

On a $1,000 investment, a -35% Percentage Change results in a Payment at Maturity of $650.00, a -35% return
on the Notes.

P-5
RBC Capital Markets, LLC

Barrier Booster Notes
Linked to the EURO STOXX 50®
Index,
Due June 30, 2022

SELECT ED RI SK CON SI DERAT I ON S
An investment in the Notes involves significant risks. Investing in the Notes is not equivalent to investing directly in the Reference
Asset. These risks are explained in more detail in the section "Additional Risk Factors Specific to the Notes," beginning on page
PS-4 of the product prospectus supplement. In addition to the risks described in the prospectus supplement and the product
prospectus supplement, you should consider the following:
·
Princ ipa l a t Risk Investors in the Notes could lose some or all or a substantial portion of their principal amount if the
level of the Reference Asset declines by more the Barrier Percentage. You will lose one percent of the principal amount of
your Notes for each 1% that the Final Level is less than the Initial Level if the Final Level is less than the Barrier Level
(70% of the Initial Level).
·
T he N ot e s Do N ot Pa y I nt e re st a nd Y our Re t urn M a y Be Low e r t ha n t he Re t urn on a Conve nt iona l
De bt Se c urit y of Com pa ra ble M a t urit y There will be no periodic interest payments on the Notes as there would
be on a conventional fixed-rate or floating-rate debt security having the same maturity. The return that you will receive on
the Notes, which could be negative, may be less than the return you could earn on other investments. Even if your return
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is positive, your return may be less than the return you would earn if you bought a conventional senior interest bearing debt
security of Royal Bank.
·
Pa ym e nt s on t he N ot e s Are Subje c t t o Our Cre dit Risk , a nd Cha nge s in Our Cre dit Ra t ings Are
Ex pe c t e d t o Affe c t t he M a rk e t V a lue of t he N ot e s The Notes are Royal Bank's senior unsecured debt
securities. As a result, your receipt of the amount due on the maturity date is dependent upon Royal Bank's ability to repay
its obligations at that time. This will be the case even if the level of the Reference Asset increases after the Pricing Date.
No assurance can be given as to what our financial condition will be at the maturity of the Notes.
·
T he re M a y N ot Be a n Ac t ive T ra ding M a rk e t for t he N ot e s--Sa le s in t he Se c onda ry M a rk e t M a y Re sult
in Signific a nt Losse s There may be little or no secondary market for the Notes. The Notes will not be listed on any
securities exchange. RBCCM and other affiliates of Royal Bank may make a market for the Notes; however, they are not
required to do so. RBCCM or any other affiliate of Royal Bank may stop any market-making activities at any time. Even if a
secondary market for the Notes develops, it may not provide significant liquidity or trade at prices advantageous to you. We
expect that transaction costs in any secondary market would be high. As a result, the difference between bid and asked
prices for your Notes in any secondary market could be substantial.
·
Y ou Will N ot H a ve Any Right s t o t he Se c urit ie s I nc lude d in t he Re fe re nc e Asse t As a holder of the
Notes, you will not have voting rights or rights to receive cash dividends or other distributions or other rights that holders of
securities included in the Reference Asset would have. The Final Level will not reflect any dividends paid on the securities
included in the Reference Asset, and accordingly, any positive return on the Notes may be less than the potential positive
return on those securities.
·
T he I nit ia l Est im a t e d V a lue of t he N ot e s I s Le ss t ha n t he Pric e t o t he Public The initial estimated value
set forth on the cover page of this pricing supplement does not represent a minimum price at which we, RBCCM or any of
our affiliates would be willing to purchase the Notes in any secondary market (if any exists) at any time. If you attempt to
sell the Notes prior to maturity, their market value may be lower than the price you paid for them and the initial estimated
value. This is due to, among other things, changes in the level of the Reference Asset, the borrowing rate we pay to issue
securities of this kind, and the inclusion in the price to the public of the underwriting discount and the estimated costs
relating to our hedging of the Notes. These factors, together with various credit, market and economic factors over the term
of the Notes, are expected to reduce the price at which you may be able to sell the Notes in any secondary market and will
affect the value of the Notes in complex and unpredictable ways. Assuming no change in market conditions or any other
relevant factors, the price, if any, at which you may be able to sell your Notes prior to maturity may be less than your
original purchase price, as any such sale price would not be expected to include the underwriting discount and the hedging
costs relating to the Notes. In addition to bid-ask spreads, the value of the Notes determined for any secondary market
price is expected to be based on the secondary rate rather than the internal funding rate used to price the Notes and
determine the initial estimated value. As a result, the secondary price will be less than if the internal funding rate

P-6
RBC Capital Markets, LLC

Barrier Booster Notes
Linked to the EURO STOXX 50®
Index,
Due June 30, 2022

was used. The Notes are not designed to be short-term trading instruments. Accordingly, you should be able and willing to
hold your Notes to maturity.
·
T he I nit ia l Est im a t e d V a lue of t he N ot e s I s a n Est im a t e Only, Ca lc ula t e d a s of t he T im e t he T e rm s of
t he N ot e s We re Se t The initial estimated value of the Notes is based on the value of our obligation to make the
payments on the Notes, together with the mid-market value of the derivative embedded in the terms of the Notes. See
"Structuring the Notes" below. Our estimate is based on a variety of assumptions, including our credit spreads,
expectations as to dividends, interest rates and volatility, and the expected term of the Notes. These assumptions are
based on certain forecasts about future events, which may prove to be incorrect. Other entities may value the Notes or
similar securities at a price that is significantly different than we do.
The value of the Notes at any time after the Pricing Date will vary based on many factors, including changes in market
https://www.sec.gov/Archives/edgar/data/1000275/000114036117026379/form424b2.htm[6/28/2017 1:45:36 PM]

conditions, and cannot be predicted with accuracy. As a result, the actual value you would receive if you sold the Notes in
any secondary market, if any, should be expected to differ materially from the initial estimated value of your Notes.
·
An I nve st m e nt in t he N ot e s I s Subje c t t o Risk s Re la t ing t o N on -U .S. Se c urit ie s M a rk e t s - Because
foreign companies or foreign equity securities included in the Reference Asset are publicly traded in the applicable foreign
countries and are denominated in currencies other than U.S. dollars, an investment in the securities involves particular
risks. For example, the non-U.S. securities markets may be more volatile than the U.S. securities markets, and market
developments may affect these markets differently from the U.S. or other securities markets. Direct or indirect government
intervention to stabilize the securities markets outside the U.S., as well as cross-shareholdings in certain companies, may
affect trading prices and trading volumes in those markets. Also, the public availability of information concerning the foreign
issuers may vary depending on their home jurisdiction and the reporting requirements imposed by their respective
regulators. In addition, the foreign issuers may be subject to accounting, auditing and financial reporting standards and
requirements that differ from those applicable to U.S. reporting companies.
The securities included in the Reference Asset are issued by companies located within the Eurozone, which is and has
been undergoing severe financial stress, and the political, legal and regulatory ramifications are impossible to predict.
Changes within the Eurozone could have a material adverse effect on the performance of the Reference Asset and,
consequently, on the value of the Notes.
·
M a rk e t Disrupt ion Eve nt s a nd Adjust m e nt s The payment at maturity and the Valuation Date are subject to
adjustment as described in the product prospectus supplement. For a description of what constitutes a market disruption
event as well as the consequences of that market disruption event, see "General Terms of the Notes--Market Disruption
Events" in the product prospectus supplement.

P-7
RBC Capital Markets, LLC

Barrier Booster Notes
Linked to the EURO STOXX 50®
Index,
Due June 30, 2022

I N FORM AT I ON REGARDI N G T H E REFEREN CE ASSET
All disclosures contained in this pricing supplement regarding the Reference Asset, including, without limitation, its make up,
method of calculation, and changes in its components, have been derived from publicly available sources. The information reflects
the policies of, and is subject to change by, STOXX Limited, as the sponsor of the Reference Asset ("STOXX"). STOXX, which
owns the copyright and all other rights to the Reference Asset, has no obligation to continue to publish, and may discontinue
publication of, the Reference Asset. The consequences of STOXX discontinuing publication of the Reference Asset are discussed
in the section of the product prospectus supplement entitled "General Terms of the Notes--Unavailability of the Level of the
Reference Asset on a Valuation Date." Neither we nor RBCCM accepts any responsibility for the calculation, maintenance or
publication of the Reference Asset or any successor index.
The Reference Asset was created by STOXX, a subsidiary of Deutsche Börse AG. Publication of the Reference Asset began in
February 1998, based on an initial index level of 1,000 at December 31, 1991.
Com posit ion a nd M a int e na nc e
The Reference Asset is composed of 50 component stocks of market sector leaders from within the 19 EURO STOXX®
Supersector indices, which represent the Eurozone portion of the STOXX Europe 600® Supersector indices.
The composition of the Reference Asset is reviewed annually, based on the closing stock data on the last trading day in August.
The component stocks are announced on the first trading day in September. Changes to the component stocks are implemented
on the third Friday in September and are effective the following trading day. Changes in the composition of the Reference Asset
are made to ensure that the Reference Asset includes the 50 market sector leaders from within the Reference Asset.
The free float factors for each component stock used to calculate the Reference Asset, as described below, are reviewed,
calculated, and implemented on a quarterly basis and are fixed until the next quarterly review.
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The Reference Asset is also reviewed on an ongoing basis. Corporate actions (including initial public offerings, mergers and
takeovers, spin-offs, delistings, and bankruptcy) that affect the Reference Asset composition are immediately reviewed. Any
changes are announced, implemented, and effective in line with the type of corporate action and the magnitude of the effect.
Ca lc ula t ion of t he Re fe re nc e Asse t
The Reference Asset is calculated with the "Laspeyres formula," which measures the aggregate price changes in the component
stocks against a fixed base quantity weight. The formula for calculating the Reference Asset value can be expressed as follows:
Free float market capitalization of the Reference Asset
Reference Asset =
x 1,000
Adjusted base date market capitalization of the Reference Asset
The "free float market capitalization of the Reference Asset" is equal to the sum of the products of the closing price, market
capitalization, and free float factor for each component stock as of the time the Reference Asset is being calculated.
The Reference Asset is also subject to a divisor, which is adjusted to maintain the continuity of the Reference Asset values across
changes due to corporate actions, such as the deletion and addition of stocks, the substitution of stocks, stock dividends, and stock
splits.

P-8
RBC Capital Markets, LLC

Barrier Booster Notes
Linked to the EURO STOXX 50®
Index,
Due June 30, 2022

Lic e nse Agre e m e nt
We have entered into a non-exclusive license agreement with STOXX providing for the license to us and certain of our affiliated or
subsidiary companies, in exchange for a fee, of the right to use indices owned and published by STOXX (including the Reference
Asset) in connection with certain securities, including the Notes offered hereby.
The license agreement between us and STOXX requires that the following language be stated in this document:
STOXX has no relationship to us, other than the licensing of the Reference Asset and the related trademarks for use in connection
with the Notes. STOXX does not:
·
sponsor, endorse, sell, or promote the Notes;
·
recommend that any person invest in the Notes offered hereby or any other securities;
·
have any responsibility or liability for or make any decisions about the timing, amount, or pricing of the Notes;
·
have any responsibility or liability for the administration, management, or marketing of the Notes; or
·
consider the needs of the Notes or the holders of the Notes in determining, composing, or calculating the Reference
Asset, or have any obligation to do so.
STOXX will not have any liability in connection with the Notes. Specifically:
·
STOXX does not make any warranty, express or implied, and disclaims any and all warranty concerning:
·
the results to be obtained by the Notes, the holders of the Notes or any other person in connection with the use of the
Reference Asset and the data included in the Reference Asset;
·
the accuracy or completeness of the Reference Asset and its data;
·
the merchantability and the fitness for a particular purpose or use of the Reference Asset and its data;
https://www.sec.gov/Archives/edgar/data/1000275/000114036117026379/form424b2.htm[6/28/2017 1:45:36 PM]

·
STOXX will have no liability for any errors, omissions, or interruptions in the Reference Asset or its data; and
·
Under no circumstances will STOXX be liable for any lost profits or indirect, punitive, special, or consequential damages
or losses, even if STOXX knows that they might occur.
The licensing agreement between us and STOXX is solely for their benefit and our benefit, and not for the benefit of the holders of
the Notes or any other third parties.

P-9
RBC Capital Markets, LLC

Barrier Booster Notes
Linked to the EURO STOXX 50®
Index,
Due June 30, 2022

H ist oric a l I nform a t ion
The graph below sets forth the information relating to the historical performance of the Reference Asset. In addition, below the graph is a table
setting forth the intra-day high, intra-day low and period-end closing levels of the Reference Asset. The information provided in this table is for
the four calendar quarters of 2013, 2014, 2015 and 2016, the first calendar quarter of 2017 and for the period from April 1, 2017 through June
27, 2017.
We obtained the information regarding the historical performance of the Reference Asset in the chart below from Bloomberg Financial Markets.
We have not independently verified the accuracy or completeness of the information obtained from Bloomberg Financial Markets. The historical
performance of the Reference Asset should not be taken as an indication of its future performance, and no assurance can be given as to the
Final Level of the Reference Asset. We cannot give you assurance that the performance of the Reference Asset will result in any positive return
on your initial investment.
EU RO ST OX X 5 0 ® I nde x ("SX 5 E")

Pe riod St a rt Da t e
Pe riod End Da t e
H igh I nt ra -Da y Le ve l
Low I nt ra -Da y Le ve l
Pe riod -End Closing Le ve l
1/1/2013
3/31/2013
2,754.80
2,563.64
2,624.02
4/1/2013
6/30/2013
2,851.48
2,494.54
2,602.59
7/1/2013
9/30/2013
2,955.47
2,539.15
2,893.15
https://www.sec.gov/Archives/edgar/data/1000275/000114036117026379/form424b2.htm[6/28/2017 1:45:36 PM]

10/1/2013
12/31/2013
3,116.23
2,891.39
3,109.00

1/1/2014
3/31/2014
3,185.68
2,944.13
3,161.60
4/1/2014
6/30/2014
3,325.50
3,083.43
3,228.24
7/1/2014
9/30/2014
3,301.15
2,977.52
3,225.93
10/1/2014
12/31/2014
3,278.97
2,789.63
3,146.43

1/1/2015
3/31/2015
3,742.42
2,998.53
3,697.38
4/1/2015
6/30/2015
3,836.28
3,374.18
3,424.30
7/1/2015
9/30/2015
3,714.26
2,973.16
3,100.67
10/1/2015
12/31/2015
3,524.04
3,036.17
3,267.52

1/1/2016
3/31/2016
3,266.01
2,672.73
3,004.93
4/1/2016
6/30/2016
3,156.86
2,678.27
2,864.74
7/1/2016
9/30/2016
3,101.75
2,742.66
3,002.24
10/1/2016
12/31/2016
3,290.52
2.937.98
3,290.52

1/1/2017
3/31/2017
3,500.93
3,214.31
3,500.93
4/1/2017
6/27/2017
3,666.80
3,407.33
3,538.32
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

P-10
RBC Capital Markets, LLC

Barrier Booster Notes
Linked to the EURO STOXX 50®
Index,
Due June 30, 2022

SU PPLEM EN T AL DI SCU SSI ON OF U .S. FEDERAL I N COM E T AX
CON SEQU EN CES
The following disclosure supplements, and to the extent inconsistent supersedes, the discussion in the product prospectus
supplement dated January 12, 2016 under "Supplemental Discussion of U.S. Federal Income Tax Consequences."
Under Section 871(m) of the Code, a "dividend equivalent" payment is treated as a dividend from sources within the United States.
Such payments generally would be subject to a 30% U.S. withholding tax if paid to a non-U.S. holder. Under U.S. Treasury
Department regulations, payments (including deemed payments) with respect to equity-linked instruments ("ELIs") that are
"specified ELIs" may be treated as dividend equivalents if such specified ELIs reference an interest in an "underlying security,"
which is generally any interest in an entity taxable as a corporation for U.S. federal income tax purposes if a payment with respect
to such interest could give rise to a U.S. source dividend. However, U.S. Treasury Department regulations provide that withholding
on dividend equivalent payments will not apply to specified ELIs that are not delta-one instruments and that are issued before
January 1, 2018. Based on our determination that the Notes are not delta-one instruments, non-U.S. holders should not be subject
to withholding on dividend equivalent payments, if any, under the Notes. However, it is possible that the Notes could be treated as
deemed reissued for U.S. federal income tax purposes upon the occurrence of certain events affecting the Reference Asset or the
Notes (for example, upon a Reference Asset rebalancing), and following such occurrence the Notes could be treated as subject to
withholding on dividend equivalent payments. Non-U.S. holders that enter, or have entered, into other transactions in respect of the
Reference Asset or the Notes should consult their tax advisors as to the application of the dividend equivalent withholding tax in
the context of the Notes and their other transactions. If any payments are treated as dividend equivalents subject to withholding, we
(or the applicable withholding agent) would be entitled to withhold taxes without being required to pay any additional amounts with
respect to amounts so withheld.
SU PPLEM EN T AL PLAN OF DI ST RI BU T I ON (CON FLI CT S OF I N T EREST )
Delivery of the Notes will be made against payment for the Notes on June 30, 2017, which is the third (3rd) business day following
https://www.sec.gov/Archives/edgar/data/1000275/000114036117026379/form424b2.htm[6/28/2017 1:45:36 PM]

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