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RBC plans to price trigger performance notes tied to iShares MSCI EAFE
By Angela McDaniels
Tacoma, Wash., Feb. 5 – Royal Bank of Canada plans to price 0% trigger performance securities due Feb. 26, 2021 linked to the iShares MSCI EAFE exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.
If the fund return is positive, the payout at maturity will be par of $10 plus 190% to 200% of the fund return. The exact participation rate will be set at pricing.
If the fund return is zero or negative and the fund’s final share price is greater than or equal to the trigger price, 75% of the initial share price, the payout will be par.
If the final share price is less than the trigger price, investors will be fully exposed to the decline in the fund from its initial share price.
UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.
The notes are expected to price Feb. 24.
The Cusip number is 78013C633.
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