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RBC plans trigger phoenix callable notes linked to three indexes
By Marisa Wong
Madison, Wis., Dec. 4 – Royal Bank of Canada plans to price trigger phoenix callable notes due Dec. 10, 2020 linked to the worst performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9% if each index closes at or above its barrier level, 70% of its initial level, on the observation date for that quarter.
The payout at maturity will be par plus the contingent coupon unless the final level of any index is less than its trigger level, 58% to 62% of the initial level, in which case investors will fully exposed to any losses of the worst performing index. The exact trigger level will be set at pricing.
The notes are callable on any quarterly observation date.
RBC Capital Markets, LLC is the underwriter.
The notes will price on Dec. 5 and settle on Dec. 10.
The Cusip number is 78010U6C6.
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