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RBC to price six-year absolute return notes linked to Euro Stoxx 50
By Angela McDaniels
Tacoma, Wash., March 10 – Royal Bank of Canada plans to price 0% absolute return notes due March 25, 2021 linked to the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 110% to 118% of the index return. The exact leverage factor will be set at pricing. If the index return is between zero and negative 35%, inclusive, the payout will be par plus the absolute value of the index return. If the index return is less than negative 35%, investors will be fully exposed to the index’s decline from its initial level.
RBC Capital Markets, LLC is the agent.
The notes will price March 20 and settle March 25.
The Cusip number is 78012KCL9.
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