Publication of Final Terms


Regulatory Announcement

Royal Bank of Canada
January 19, 2016

Publication of Final Terms

Not for release, publication or distribution, directly or indirectly, in or into
the United States.

Royal Bank of Canada has agreed to issue EUR112,000,000 1.616 per cent. Covered
Bonds due 15 December 2034 (to be consolidated and form a single Series CB27
with the EUR298,500,000 1.616 per cent. Covered Bonds due 15 December 2034
issued on 15 December 2015) (the "Covered Bonds") pursuant to the
€32,000,000,000 Global Covered Bond Programme of Royal Bank of Canada,
unconditionally and irrevocably guaranteed as to payments by RBC Covered Bond
Guarantor Limited Partnership (the "Programme").

The following document constitutes the final terms dated January 19, 2016 (the
"Final Terms") relating to the issue of the Covered Bonds for purpose of Article
5.4 of Directive 2003/71/EC and must be read in conjunction with the Prospectus
dated July 31, 2015, as supplemented by the 1st Supplementary Prospectus dated
September 8, 2015 and the 2nd Supplementary Prospectus dated December 10, 2015
relating to the Programme (together, the "Prospectus").  Full information on
Royal Bank of Canada and the offer of the Covered Bonds is only available on the
basis of the combination of the Final Terms and the Prospectus.

The Final Terms have been submitted to the National Storage Mechanism and will
shortly be available for inspection at: http://www.morningstar.co.uk/uk/NSM

DISCLAIMER - INTENDED ADDRESSEES

Please note that the information contained in the Prospectus and the Final Terms
may be addressed to and/or targeted at persons who are residents of particular
countries (specified in the Prospectus) only and is not intended for use and
should not be relied upon by any person outside these countries and/or to whom
the offer contained in the Prospectus and the Final Terms is not addressed.
Prior to relying on the information contained in the Prospectus and the Final
Terms you must ascertain from the Prospectus whether or not you are part of the
intended addressees of the information contained therein.

In particular, neither the Prospectus nor the Final Terms have not been and will
not be registered under the United States Securities Act of 1933, as amended
(the "Securities Act"), and may not be offered or sold within the United States
or to or for the account or benefit of U.S. persons except pursuant to an
exemption from, or in a transaction not subject to, the registration
requirements of the Securities Act.  Accordingly, the Covered Bonds will be
offered only (i) in offshore transactions to non-U.S. persons in reliance upon
Regulation S under the Securities Act and (ii) to qualified institutional buyers
in reliance upon Rule 144A under the Securities Act.

Your right to access this service is conditional upon complying with the above
requirement.

To view the Final Terms in full, please paste the following URL into the address
bar of your browser.

http://www.rns-pdf.londonstockexchange.com/rns/3602M_-2016-1-19.pdf

For further information, please contact
Paul Guthrie
Assistant General Counsel
Royal Bank of Canada
Telephone Number:  (416) 974-6516
Fax Number:  (416) 955-2032
Email:  paul.guthrie@rbc.com

Attachments

01198894.pdf