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RBC plans contingent return optimization securities on Euro Stoxx 50
By Jennifer Chiou
New York, Dec. 5 - Royal Bank of Canada plans to price 0% contingent return optimization securities due Dec. 31, 2014 linked to the Euro Stoxx 50 index, according to an FWP with the Securities and Exchange Commission.
If the final index level is greater than or equal to the trigger level, 75% of the initial index level, the payout at maturity will be par of $10 plus the greater of the 10% contingent return and the index return. The payout will be subject to a maximum return of 28% to 36% that will be set at pricing.
If the final index level is less than the trigger level, investors will be fully exposed to the index decline.
The notes (Cusip: 78008W636) are expected to price on Dec. 27 and settle Dec. 31.
UBS Financial Services Inc. and RBC Capital Markets, LLC will be the agents.
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