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RBC European TEAM Roc Yield Securities Global Investment Solutions

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RBC European TEAM Roc Yield Securities Global Investment Solutions November 2017 RBC European TEAM RoC Yield Securities Global Investment Solutions Investment Objective: EQUITY INVESTMENT – NOVEMBER 2017 The RBC European Tactical Equity As of October 31, 2017, the Portfolio was allocated equally between a Fixed Income Investment and an Equity Investment. Allocation Model (TEAM) RoC Yield Indicated dividend yield on the Underlying Equity Securities as of October 31, 2017 was 2.55%. Quarterly return of capital Securities are designed to provide payments on the Securities will only be calculated when the Strategy allocates 50% to 100% of the Portfolio to an Equity Investment. investors with “long” exposure to Dividend RBC’s proprietary 8-factor Sector Country Symbol Company Weight Rank quantitative model (the “Model”), Yield (%) with the ability to allocate to fixed Energy United Kingdom SUBC NO Subsea 7 SA 4.12% 91 - income investments based on the Materials Sweden SCAB SS Svenska Cellulosa AB SCA 3.78% 3 7.63 trend of the S&P Europe 350 Index® United Kingdom AAL LN Anglo American PLC 4.12% 4 2.60 (“Index”). The goal of this strategy is Luxembourg MT NA ArcelorMittal 4.43% 6 - Austria VOE AV voestalpine AG 3.78% 10 2.33 to be exposed to the shares selected Industrials Germany LHA GY Deutsche Lufthansa AG 4.50% 2 1.81 by the Model when the trend is France SAF FP Safran SA 4.06% 7 1.68 positive for the equity markets and Sweden VOLVB SS Volvo AB 4.11% 14 1.96 to reduce or eliminate equity United Kingdom IAG LN International Consolidated Airlines Group 4.01% 25 3.45 exposure as the trend for the equity France EN FP Bouygues SA 4.00% 27 3.88 markets becomes negative. Consumer Discretionary United Kingdom FCA IM Fiat Chrysler Automobiles NV 3.94% 1 - United Kingdom PSN LN Persimmon PLC 4.14% 9 3.93 No Canadian Tax Events: Germany PAH3 GY Porsche Automobil Holding SE 3.78% 11 1.60 Until maturity or disposition France UG FP Peugeot SA 3.95% 17 2.36 On Portfolio changes or rebalancing Financials Netherlands ABN NA ABN AMRO Group NV 3.98% 5 4.11 On quarterly return of capital Sweden KINVB SS Kinnevik AB 3.99% 8 2.91 payments United Kingdom III LN 3i Group PLC 4.08% 22 2.76 Italy MB IM Mediobanca SpA 4.12% 30 3.93 Benchmark: Italy ISPR IM Intesa Sanpaolo SpA 3.76% 34 4.03 S&P Europe 350 Index® Italy ISP IM Intesa Sanpaolo SpA 3.72% 39 3.40 Belgium KBC BB KBC Group NV 3.88% 42 2.80 Asset Class: Sweden INDUC SS Industrivarden AB 4.02% 64 2.44 European equity Austria EBS AV Erste Group Bank AG 3.80% 81 - Utilities Denmark ORSTED DC Orsted A/S 3.78% 12 1.68 INDUSTRY ALLOCATION Real Estate Germany VNA GY Vonovia SE 4.16% 54 2.97 Portfolio Deletions Portfolio Additions Unione di Banche Italiane Svenska Cellulosa UBI IM Italy 4.05 EUR SCAB SS Sweden 79.64 SEK SpA AB SCA ACA FP Credit Agricole SA France 14.83 EUR VOE AV voestalpine AG Austria 47.52 EUR Porsche Automobil NN NA NN Group NV Netherlands 35.67 EUR PAH3 GY Germany 64.28 EUR Holding SE DANSKE ORSTED Danske Bank A/S Denmark 246.28 DKK Orsted A/S Denmark 344.98 DKK DC DC 1, 2 HISTORICAL SECONDARY MARKET PRICE Energy 2.06% Materials 8.05% Industrial 10.34% Consumer Discretionary 7.90% Financials 17.68% Utilities 1.89% Real Estate 2.08% Fixed Income Investment 50.00% Since 1 month 3 months YTD 1 year Returns as of October 31, 2017 Inception This fact sheet is qualified in its entirety by a term sheet. 1 RBC European TEAM Total Return Securities, Refer to footnote 1 on page 2. 1.16% 2.81% 15.74% 23.45% 5.58% 2Refer to footnote 2 on page 2. Series 1P, F-Class S&P Europe 350 Index® 1.85% 4.79% 8.91% 16.39% 4.67% - 2 - March 2015 Global Investment Solutions THE TEAM MODEL METHODOLOGY On the last Exchange Day of each month, the Strategy compares the closing level of the S&P Europe 350 Index® to its 200-day moving average (“200 DMA”) to determine the asset allocation for the following month. If the Index closes greater than 5% above its 200 DMA, the Strategy will allocate 100% exposure to the Equity Investment. If the Index closes more than 5% below its 200 DMA, the Strategy will allocate 100% to the Fixed Income Investment. Within a range of +/- 5% (inclusive) of the 200 DMA, the Strategy will allocate 50% to the Equity Investment and 50% to the Fixed Income Investment. ASSET ALLOCATION On a monthly basis, an asset allocation decision is made based on the level of the S&P Europe 350 Index® relative to its 200 DMA. THE UNIVERSE NO CANADIAN TAX EVENTS THE EQUITY INVESTMENT METHODOLOGY Dividend yielding European equities S&P Europe 350 Index® > Until maturity or disposition The equity Portfolio: Review equity Portfolio on a monthly basis and adjust notional holdings and weights. Only largest 100 qualifiers > On Portfolio changes or rebalancing are eligible > The entire S&P Europe 350 Index® is eligible to be included, subject > On quarterly RoC payments to a limitation on High Risk Country Stocks > The equity Portfolio is reviewed each month after ranks have been updated Rank stocks based on an equally weighted combination of 8 THE MODEL factors that fall into 4 distinct investment themes > Stocks are removed if they drop below the 100th position in terms x 1/8 of their rank ATTRACTIVE Low Price to Earnings VALUATIONS Low Price to Book Value x 1/8 > Stocks are removed if they are removed from the Index SUSTAINABLE High Quarterly Earnings Growth x 1/8 GROWTH High Return On Equity x 1/8 > Replacement stocks are the best-ranked stocks not already included in the equity Portfolio POSITIVE High Earnings Surprise x 1/8 SENTIMENT High Estimate Revisions x 1/8 > At the end of each quarter the equity Portfolio is rebalanced to MARKET High 3-Month Price Change x 1/8 equal weights RECOGNITION High 6-Month Price Change x 1/8 = Total Score 1This Historical Secondary Market Price chart reflects the historical closing secondary market price of RBC European TEAM Total Return Securities, Series 1P – F-Class (the “Series 1P – F-Class”) for each day such secondary market was open for trading and the percentage change of the level of the Index since the Issue Date of Series 1P – F-Class on January 7, 2014. The Series 1P – F-Class is the initial implementation of the RBC European TEAM RoC Yield Securities strategy. The closing secondary market price of Series 1P – F-Class on its Issue Date was €100.00. For Series 1P – F-Class, an amount equal to €97.53 per Security was notionally invested in the Portfolio on the Issue Date. The secondary market price at any particular time is the price at which a holder of RBC European TEAM RoC Yield Securities could dispose of such securities. The secondary market price may not be the same as, and may be substantially different from the NAV per Security. The NAV per Security between different series of RBC European TEAM RoC Yield Securities may differ for various reasons including as a result of different levels of Note Program Amounts, applicable early trading charges and the issue date for a particular series. The difference in NAV per Security between the Securities for different series of RBC European TEAM RoC Yield Securities could result in different secondary market prices for Securities of different series of RBC European TEAM RoC Yield Securities. The historical secondary market price for RBC European TEAM RoC Yield Securities which are not Series 1P – F-Class may differ from the historical secondary market price for Series 1P – F-Class Securities because the different Note Program Amounts for the different series of RBC European TEAM RoC Yield Securities may affect the secondary market price of such securities. A series of RBC European TEAM RoC Yield Securities with a Note Program Amount which is higher than the Note Program Amount for Series 1P – F-Class would likely have a lower secondary market price than the secondary market price for Series 1P – F-Class. Prior historical secondary market prices of Series 1P – F-Class are not necessarily indicative of any future secondary market price for Series 1P – F-Class or other RBC European TEAM RoC Yield Securities. There is no assurance that a secondary market for the Securities will develop or be sustained. 2The secondary market price of the Securities at any time will generally depend on, among other things, (a) how much the prices of the underlying interests have risen or fallen since the Issue Date of such Securities; and (b) a number of other interrelated factors, including, without limitation, volatility in the prices of the underlying interests, the level of interest rates in the applicable markets, dividend yields on any of the securities, if any, comprising the underlying interest, and the Maturity Date. The relationship among these factors is complex and may also be influenced by various political, economic and other factors that can affect the trading price of a Security. The S&P Europe 350 Index® is a product of S&P Dow Jones Indices LLC (“SPDJI”), and has been licensed for use by the Bank. Standard & Poor’s® and S&P® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by the Bank.
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