RBC plans notes tied to Raymond James top picks in technology

By Sarah Lizee

Olympia, Wash., Feb. 19 – Royal Bank of Canada plans to price 0% notes linked to Raymond James top selections in technology due Aug. 26, 2021, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are linked to an equally-weighted basket of 20 common stocks in the technology sector selected by Raymond James & Associates, Inc. The reference shares are Analog Devices, Inc., Amazon.com, Inc., Aptiv plc, Arrow Electronics Inc., salesforce.com, inc., Cisco Systems, Inc., Cubic Corp., Dell Technologies Inc., Fortinet, Inc., Microsoft Corp., Netflix, Inc., Pure Storage, Inc., Qualcomm Inc., Rapid7, Inc., EchoStar Corp., Synnex Corp., Skyworks Solutions, Inc., AT&T Inc., Veeva Systems Inc. and VMWare, Inc.

The payout at maturity will be par of $1,000 times 97.35% times the basket level percentage. Because of the 97.35% participation rate, investors will receive less than par if the basket does not gain by at least 2.73%.

RBC Capital Markets, LLC is the agent.

The notes will price on Feb. 21.

The Cusip number is 78013GUU7.

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