RBC plans buffer absolute return notes tied to iShares MSCI EAFE fund

By Tali Rackner

Minneapolis, April 12 – Royal Bank of Canada plans to price 0% buffer absolute return notes due April 18, 2023 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 plus 1.13 to 1.21 times the gain.

If the fund declines by up to 20%, the payout will be par plus the absolute value of the index return.

If the fund declines by more than 20%, investors will lose 1% for every 1% decline beyond the 20% buffer.

RBC Capital Markets, LLC is the underwriter.

The notes will price on April 13 and settle on April 19.

The Cusip number is 78012KJ40.

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