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RBC plans six-year barrier booster notes tied to S&P 500, Dow Jones
By Sarah Lizee
Olympia, Wash., Sept. 20 – Royal Bank of Canada plans to price 0% barrier booster notes due Sept. 30, 2025 linked to the lesser performing of the S&P 500 index and the Dow Jones Industrial average, according to an FWP filing with the Securities and Exchange Commission.
If the lesser-performing index gains by more than the booster coupon of 38% to 48%, the payout at maturity will be par plus the return of the lesser-performing index. If the lesser-performing index gains by up to the booster coupon, the payout will be par plus the booster coupon. The exact booster coupon will be set at pricing.
If the lesser-performing index falls by up to 40%, the payout will be par.
If the lesser-performing index finishes below its 60% barrier, investors will lose 1% for each 1% decline of the lesser-performing index from its initial level.
RBC Capital Markets, LLC is the agent.
The notes (Cusip: 78015KEN0) will price on Sept. 25.
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