RBC plans two-year dual directional trigger PLUS linked to Apple

By Susanna Moon

Chicago, May 24 – Royal Bank of Canada plans to price 0% dual directional trigger Performance Leveraged Upside Securities due June 3, 2020 linked to Apple Inc. stock, according to a 424B2 filed with the Securities and Exchange Commission.

If the stock finishes above its initial level, the payout at maturity will be par plus 150% of the gain up to a maximum return of 22.3%.

If the stock falls by up to its 80% trigger level, the payout will be par plus the absolute value of the return.

Otherwise, investors will be fully exposed to any losses.

RBC Capital Markets, LLC is the agent.

The notes will price on May 31.

The Cusip number is 78013Q798.

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