RBC changes pricing date, terms for contingent coupon callable yield notes linked to three indexes

By Jennifer Chiou

New York, Feb. 23 – Royal Bank of Canada updated its upcoming offer of contingent coupon callable yield notes linked to the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, changing the planned maturity date to Feb. 28, 2017 from March 1, 2017, according to a 424B2 filing with the Securities and Exchange Commission.

The issuer also moved the pricing date to Feb. 25 from Feb. 24.

As reported, the notes will pay a contingent quarterly coupon at an annual rate of 10% if each index closes at or above the 70% barrier level on the determination date for that quarter.

The payout at maturity will be par plus the contingent coupon if each index finishes at or above the 70% barrier level.

If any index falls by more than 30%, investors will be fully exposed to any losses of the worst-performing index.

The notes are callable at par on any coupon payment date.

As stated before, the notes (Cusip: 78012KBD8) will settle on Feb. 27.

RBC Capital Markets, LLC and Barclays are the underwriters.

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