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RBC plans trigger return optimization securities linked to Euro Stoxx
By Marisa Wong
Madison, Wis., July 6 – Royal Bank of Canada plans to price 0% trigger return optimization securities due July 31, 2018 linked to the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus 2 times the index return, subject to a maximum return of 41% to 47% that will be set at pricing.
If the index return is zero or negative and the final index level is greater than or equal to the trigger level, 75% of the initial level, the payout will be par.
If the final index level is less than the trigger level, investors will be fully exposed to the index’s decline from its initial level.
UBS Financial Services Inc. and RBC Capital Markets, LLC are the underwriters.
The notes will price on July 29 and settle on July 31.
The Cusip number is 78013D375.
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