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RBC plans to price barrier absolute return notes due 2022 tied to Dow
By Sarah Lizee
Olympia, Wash., Aug. 15 – Royal Bank of Canada plans to price 0% barrier absolute return notes due Dec. 22, 2022 linked to the Dow Jones Industrial Average, according to an FWP filing with the Securities and Exchange Commission.
If the index finishes above the initial level, the payout at maturity will be par plus the gain.
If the index falls but finishes at or above the 70% barrier level, the payout will be par plus the absolute value of the return.
Otherwise, investors will lose 1% for each 1% decline.
RBC Capital Markets, LLC is the agent.
The notes will price on Aug. 17 and settle on Aug. 22.
The Cusip number is 78013XA57.
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