Look up the total specs for each tire including the outer diameter. Switching from a 18" rim and tire to a 16" rim and tire may very well change the diameter more than the different aspect ratio's compensate for. If the difference in O.D. is significant, then you will have a difference in effective overall gear ratio which will affect the speedometer/odometer, and a slight difference in ride height. No big deal. Look at the non-CVO versions of the Road King over recent years and you'll find they had 16" tires, as did the 2012 CVO Ultra. Harley doesn't put a unique suspension on the bikes with the 18" rims, so the only real difference is the rims and tires. As long as you swap both front and rear together, I can't imagine having any significant difference in handling. The other thing to always look at is the load rating. In this case there is very little difference (80 versus 81). BTW, the 2013 CVO RK Anniversary comes with the same tire you're talking about installing. I don't know why, but the Harley spec pages list those two different rear tires, one for the regular CVO and the other for the Anniversary version. So obviously Harley doesn't see a problem with the different diameter and load range.
Take a look at the attached spec sheet from Dunflop; click on it to enlarge.
Jerry