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RBC plans trigger step performance securities tied to Euro Stoxx
By Marisa Wong
Madison, Wis., Feb. 4 - Royal Bank of Canada plans to price 0% trigger step performance securities due Feb. 28, 2017 linked to the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.
If the index return is zero or positive, the payout at maturity will be par of $10 plus the greater of the index return and the step return, which is expected to be 20% to 26% and will be determined at pricing.
Investors will receive par if the index falls by up to 20% and will be fully exposed to losses from the initial level if it falls more than 20%.
The notes (Cusip: 78010Y570) are expected to price Feb. 26 and settle Feb. 28.
RBC Capital Markets LLC and UBS Financial Services Inc. are the agents.
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