RBC plans dual directional trigger jump notes linked to Topix index

By Devika Patel

Knoxville, Tenn., April 1 – Royal Bank of Canada plans to price 0% dual directional trigger jump securities due May 3, 2024 linked to the Topix index, according to an FWP with the Securities and Exchange Commission.

If the index finishes at or above its initial level, the payout at maturity will be par of $10 plus the greater of the index return and the digital return of 47%.

If the index falls but finishes at or above the trigger level, 80% of the initial index level, the payout will be par plus the absolute value of the index return.

If the index finishes below the trigger level, investors will lose 1% for every 1% that the index declines from its initial level.

RBC Capital Markets Corp. is the agent, with Morgan Stanley Wealth Management handling distribution.

The notes (Cusip: 78014H524) will price on April 26 and settle on May 1.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.