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RBC to price contingent barrier notes on Hang Seng China Enterprises
By Marisa Wong
Morgantown, W.Va., Aug. 22 – Royal Bank of Canada plans to price 0% contingent barrier enhanced notes due Sept. 11, 2019 linked to the Hang Seng China Enterprises index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus the index gain, capped at 26.95%.
If the index return is zero or negative but at least negative 20%, the payout will be par.
If the index return is less than negative 20%, the payout will be par plus the index return with full exposure to losses.
RBC Capital Markets, LLC is the underwriter. JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are placement agents.
The notes will price on Aug. 24.
The Cusip number is 78013XB64.
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