Form 424B2 ROYAL BANK OF CANADA


Royal Bank of Canada is offering the Buffered Return Notes (the “Notes”) linked to the performance of a basket (the “Basket”) of three exchange-traded funds: the Energy Select Sector SPDR® Fund, the SPDR®
S&P® Oil & Gas Exploration & Production ETF and the SPDR Gold Trust®. The CUSIP number for the Notes is 78016EBV8.

The weightings of the Basket Components in the Basket will depend upon their performance over the term of the Notes, determined as set forth below. The Basket Component with the best performance will receive a 40%
weighting, the Basket Component with the second best performance will receive a 32.50% weighting, and the Basket Component with the lowest performance will receive a 27.50% weighting.  Accordingly, the actual weight of each Basket Component that
will be used to determine the return on the Notes will not be known until the Valuation Date.

If the Basket Percentage Change (as defined below) of the Basket (which will depend on these weightings) is positive, the Notes will provide a return that is equal to that Basket Percentage Change, up to the Maximum
Return of 18.75%. If the Basket Percentage Change is negative, but is not less than ‑7.50%, the Notes will pay the principal amount. However, if the Basket Percentage Change is less than ‑7.50%, you will lose 1% of the principal amount for each 1%
that the Basket Percentage Change is less than -7.50%, and you may lose up to 92.50% of your investment. Any payments on the Notes are subject to our credit risk.

Issue Date: June 25, 2021

Maturity Date: February 27, 2023

The Notes will not pay interest.  The Notes will not be listed on any securities exchange.

Investing in the Notes involves a number of risks. See “Selected Risk Considerations” beginning on page P-8 of this pricing supplement, “Additional Risk Factors Specific to the Notes” beginning on page PS-6 of the
product prospectus supplement dated September 11, 2018, and “Risk Factors” on page S-1 of the prospectus supplement dated September 7, 2018.

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. The Notes
are not subject to conversion into our common shares under subsection 39.2(2.3) of the Canada Deposit Insurance Corporation Act.

Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of the Notes 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

100.00%

 

$1,830,000

Underwriting discounts and commissions(1)

0.00%

 

$0.00

Proceeds to Royal Bank of Canada

100.00%

 

$1,830,000

(1) RBC Capital Markets, LLC (“RBCCM”), acting as our agent, will not receive a commission in connection with its sales of the Notes. “Supplemental Plan of Distribution (Conflicts of
Interest)” below.

The initial estimated value of the Notes as of the Trade Date was $984.40 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.

SUMMARY

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”)

 

Underwriter:

RBC Capital Markets, LLC

 

Reference Asset:

The Notes are linked to the level of a basket (the “Basket”) of three exchange-traded funds (each, a “Basket Component”), which will be weighted as of the Valuation Date as
described below.  The Basket Components are set forth in the table below.

 

Currency:

U.S. Dollars

 

Denominations

$1,000 and minimum denominations of $1,000 in excess thereof

 

Trade Date

(Pricing Date):

June 22, 2021

 

Issue Date:

June 25, 2021

 

Valuation Date:

February 22, 2023

 

Maturity Date:

February 27, 2023.  The Maturity Date is subject to extension for market and other disruptions, as described in the product prospectus supplement dated September 11, 2018.

 

Payment at

Maturity (if held

to maturity):

 

If the Basket Percentage Change is positive, then the investor will receive, for each $1,000 in principal amount of the Notes, an amount calculated as
follows:

$1,000 + ($1,000 x the lesser of (i) the Basket Percentage Change and (ii) the Maximum Return)

 

If the Basket Percentage Change is zero or negative but is greater than or equal to -7.50%, the investor will receive the Principal Amount of the Notes.

 

If the Basket Percentage Change is less than -7.50%, then the investor will receive a cash payment equal to:

 

$1,000 + [$1,000 x (Basket Percentage Change + Buffer Percentage)]

In this case, you will lose 1% of the principal amount for each 1% that the Basket Percentage Change is less than -7.50%, and you may lose up to 92.50% of the principal
amount.

 

Maximum Return:

 

18.75%

 

Buffer

Percentage:

7.50%

 

Basket

Percentage

Change:

The Basket Percentage Change, expressed as a percentage and rounded to two decimal places, will be equal to the sum of the Weighted
Component Change for each Basket Component. The Weighted Component Change for each Basket Component will be determined as follows:

Component Weight x Component Percentage Change

 

Component

Weights:

 

The Component Weight of each Basket Component will be determined on the Valuation Date.

1. The Basket Component with the highest Component Percentage Change will have a Component Weight of 40%.

2. The Basket Component with the second highest Component Percentage Change will have a Component Weight of 32.50%.

3. The Basket Component with the lowest Component Percentage Change will have a Component Weight of 27.50%.

 

Component

Percentage

Change:



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