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RBC plans absolute return barrier notes due 2018 linked to indexes
By Susanna Moon
Chicago, July 7 – Royal Bank of Canada plans to price 0% absolute return barrier notes due Jan. 11, 2018 linked to the MSCI EAFE index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes above its initial level, the payout at maturity will be par plus 1.3 times any gain of the worse performing index.
If either index falls but finishes at or above its 75% trigger level, the payout will be par plus the absolute value of the return of the worse performing index.
Otherwise, investors will be fully exposed to any losses of the worse performing index.
RBC Capital Markets, LLC is the agent.
The notes will price on July 8 and settle on July 11.
The Cusip number is 78010UM79.
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