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RBC to price contingent income callable notes on S&P, Euro Stoxx
By Marisa Wong
Morgantown, W.Va., Nov. 13 – Royal Bank of Canada plans to price contingent income callable notes due Nov. 24, 2017 linked to the worst performing of the S&P 500 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 6.5% to 7.5% if each index closes at or above its 75% coupon barrier level on the observation date for that quarter.
The notes are callable on any quarterly call date.
The payout at maturity will be par unless either index finishes below its 75% trigger level, in which case investors will be fully exposed to any losses of the worst performing index.
RBC Capital Markets, LLC is the agent.
The notes will price on Nov. 20 and settle on Nov. 25.
The Cusip number is 78012KJN8.
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