| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers E > Headlines for Euro Stoxx 50 index > News item |
RBC plans Stars linked to basket of S&P 500, Euro Stoxx 50 indexes
By Marisa Wong
Madison, Wis., March 31 - Royal Bank of Canada plans to price 0% Strategic Accelerated Redemption Securities due May 2015 tied to a basket of two equally weighted indexes, according to an FWP filing with the Securities and Exchange Commission.
The basket consists of the S&P 500 index and the Euro Stoxx 50 index.
If the basket closes at or above the initial level on any observation date, the notes will be called at par plus a call premium of 5% to 9% per year. The observation dates will be in October 2014, January 2015 and April 2015.
Investors will receive par if the basket falls by up to 5% and will lose 1% for every 1% decline in the basket beyond 5%.
BofA Merrill Lynch is the underwriter.
The exact deal terms will be set at pricing.
The notes will price in April and settle in May.
© 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.