| 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 market-linked step-up autocallable notes on two indexes
By Marisa Wong
Madison, Wis., July 3 – Royal Bank of Canada plans to price 0% autocallable market-linked step up notes due July 2017 linked to two indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a weight of 85% and the MSCI Emerging Markets index with a weight of 15%.
The notes will be called at par plus an annualized call premium of 8% if the basket closes at or above its initial level on either annual call date.
If the basket finishes at or above the step-up value – 114% to 120% of the initial level – the payout at maturity will be par plus the basket return.
If the basket finishes below the step-up level but at or above the initial level, the payout will be par plus the step-up return of 14% to 20%.
Investors will receive par if the basket falls by up to 5% and will be exposed to losses beyond 5%.
BofA Merrill Lynch is the underwriter.
The notes will price and settle in July.
© 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.