RBC plans capped gears linked to Energy Select Sector SPDR fund

By Marisa Wong

Morgantown, W.Va., Dec. 2 – Royal Bank of Canada plans to price 0% capped gears due Feb. 28, 2018 linked to the Energy Select Sector SPDR fund, according to an FWP filing with the Securities and Exchange Commission.

If the fund finishes above its initial level, the payout at maturity will be par plus triple the gain, up to a maximum gain of 20.3% to 21.3%. The exact cap will be set at pricing.

If the fund return is negative, investors will lose 1% for each 1% decline.

UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.

The notes will price on Dec. 5.

The Cusip number is 78014E125.

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