Depending on which type of barrel the RPG spawns with, the rockets fired can have varying properties:
Tediore – Does nothing additional.
Bandit/scav – Increased damage and reduced accuracy.
Every third rocket will be a free rocket that won't consume ammo regardless of the magazine capacity or the time at which it is reloaded. This means that if the launcher is reloaded early, the gun will still register the number of shots before the next free rocket (which in turn means that free rocket will not be lost from reloading). This causes the gun to sometimes fail to automatically reload when it depletes the magazine because it registers the next shot as a free shot when the magazine is empty.
The RPG will have the same skin when it is either blue or purple rarity as opposed to any other weapon type.
The RPG is obtained randomly from any suitable loot source.