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RBC plans six-year barrier booster notes tied to iShares MSCI EAFE
By Marisa Wong
Morgantown, W.Va., May 25 – Royal Bank of Canada plans to price 0% barrier booster notes due June 1, 2023 linked to the iShares MSCI EAFE exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.
If the fund gains by more than 38.5% to 43.5%, the payout at maturity will be par plus the return.
If the fund gains by up to the booster percentage, the payout will be par plus the booster coupon of 38.5% to 43.5%.
Investors will receive par if the fund falls by up to 30% and will be fully exposed to any losses if the fund finishes below the 70% barrier level.
The exact deal terms will be set at pricing.
RBC Capital Markets, LLC is the underwriter.
The notes will price on May 26.
The Cusip number is 78012KP76.
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