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RBC to price barrier return notes due 2024 tied to basket of S&P, Dow
By Sarah Lizee
Olympia, Wash., Sept. 13 – Royal Bank of Canada plans to price 0% barrier return notes due March 28, 2024 linked to an equally-weighted basket consisting of the S&P 500 index and the Dow Jones Industrial Average, according to an FWP filing with the Securities and Exchange Commission.
If the basket return is positive, the payout at maturity will be par plus the return.
If the basket falls by up to 50%, the payout will be par.
If the basket falls by more than 50%, investors will lose 1% for every 1% that the basket declines from its initial level.
RBC Capital Markets LLC is the underwriter.
The notes will price Sept. 25 and settle Sept. 28.
The Cusip number is 78013XF94.
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