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RBC plans bullish barrier enhanced return notes linked to Euro Stoxx
By Toni Weeks
San Luis Obispo, Calif., May 30 - Royal Bank of Canada plans to price 0% bullish barrier enhanced return notes due December 2017 linked to the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.
If the index finishes above its initial level, the payout at maturity will be par plus 150% of the index return.
If the index declines by up to 30%, the payout will be par. If the index declines by more than 30%, investors will be fully exposed to losses from the initial index level.
The notes (Cusip: 78010UZY6) are expected to price and settle in June.
RBC Capital Markets, LLC is the underwriter. J.P. Morgan Securities LLC is the placement agent.
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