RBC to price Accelerated Return Notes tied to three financial stocks

By Devika Patel

Knoxville, Tenn., April 11 – Royal Bank of Canada plans to price 0% Accelerated Return Notes due June 2020 linked to a basket of three equally weighted stocks, according to an FWP filing with the Securities and Exchange Commission.

The underlying companies are Citigroup Inc., KeyCorp and Wells Fargo & Co.

The payout at maturity will be par of $10 plus triple any basket gain, up to a maximum payout of 20% to 24%. The exact cap will be set at pricing.

Investors will lose 1% for each 1% decline.

BofA Merrill Lynch is the agent.

The notes will price in April and settle in May.

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