RBC plans contingent coupon barrier notes linked to three indexes

By Angela McDaniels

Tacoma, Wash., June 2 – Royal Bank of Canada plans to price callable contingent coupon barrier notes due Dec. 16, 2019 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon if each index closes at or above its trigger level, 75% of its initial level, on each trading day during that quarter. The contingent coupon rate is expected to be 10% to 11% per year and will be set at pricing.

The notes will be callable at par on any coupon payment date.

The payout at maturity will be par unless any index finishes below its trigger level, in which case investors will be exposed to the decline of the least-performing index from its initial level.

RBC Capital Markets, LLC is the underwriter.

The notes will price June 7.

The Cusip number is 78012KV46.

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