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RBC plans callable contingent coupon barrier notes on indexes
By Sarah Lizee
Olympia, Wash., Nov. 22 – Royal Bank of Canada plans to price issuer callable contingent coupon barrier notes due May 30, 2025 linked to the Nasdaq-100 index, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 5.25% to 6.25% per year if each index closes at or above its coupon barrier level 65% of its initial level, on the observation date for that quarter.
The notes are callable at par on any interest payment date after one year.
The payout at maturity will be par unless any index finishes below its 65% trigger level, in which case investors will lose 1% for every 1% that the least-performing index declines from its initial level.
RBC Capital Markets, LLC is the underwriter.
The notes will price on Nov. 25.
The Cusip number is 78015KFL3.
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