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RBC to price barrier absolute return notes linked to Euro Stoxx
By Marisa Wong
Morgantown, W.Va., Sept. 27 – Royal Bank of Canada plans to price 0% barrier absolute return notes due Oct. 3, 2019 linked to the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.
If the index finishes above the initial level, the payout at maturity will be par plus 150% of the gain, subject to a maximum payment of par plus 29.25%.
If the index falls but finishes at or above the 80% barrier level, the payout will be par plus the absolute value of the return.
Otherwise, investors will lose 1% for each 1% decline.
RBC Capital Markets, LLC is the underwriter.
The notes will price on Sept. 28.
The Cusip number is 78012K7K7.
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