RBC plans trigger absolute return step notes linked to Euro Stoxx 50

By Sarah Lizee

Olympia, Wash., Dec. 10 – Royal Bank of Canada plans to price 0% trigger absolute return step securities due Dec. 29, 2023 linked to the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.

If the final index level is greater than or equal to the initial level, the payout at maturity will be par of $10 plus the greater of the step return and the index return. The step return is expected to be 59% to 63% and will be set at pricing.

If the final index level is less than the initial level but greater than or equal to the downside threshold level, 70% of the initial level, the payout will be par plus the absolute value of the index return.

If the final level is less than the downside threshold level, investors will lose 1% for every 1% that the final level is less than the initial level.

RBC Capital Markets Corp. and UBS Financial Services Inc. are the agents.

The notes (Cusip: 78014G856) will price on Dec. 27 and settle on Dec. 31.

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