RBC to price barrier absolute return notes on iShares MSCI EAFE ETF

By Marisa Wong

Morgantown, W.Va., Aug. 25 – Royal Bank of Canada plans to price 0% barrier absolute return notes due Sept. 3, 2019 linked to the iShares MSCI EAFE exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.

If the fund finishes above the initial level, the payout at maturity will be par plus the gain.

If the fund falls but never closes below the 75.5% to 77% barrier level during the life of the notes, the payout will be par plus the absolute value of the return.

Otherwise, investors will lose 1% for each 1% decline.

RBC Capital Markets, LLC is the agent.

The notes will price on Aug. 28.

The Cusip number is 78012K4V6.

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