RBC intends to price PLUS due 2020 linked to S&P 500 index

By Sarah Lizee

Olympia, Wash., Feb. 11 – Royal Bank of Canada plans to price 0% Performance Leveraged Upside Securities due June 3, 2020 linked to the S&P 500 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 of $10 plus triple the index return, subject to a maximum payout of $11.40 per PLUS. Investors will lose 1% for each 1% decline.

RBC Capital Markets, LLC is the agent. Distribution is through Morgan Stanley Wealth Management.

The notes (Cusip: 78014H284) will price on Feb. 28.

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