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RBC plans bullish barrier digital plus notes due 2021 tied to S&P 500
By Susanna Moon
Chicago, July 13 – Royal Bank of Canada plans to price 0% bullish barrier digital plus securities due Feb. 2, 2021 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index gains by more than the 140% to 142% threshold, with the exact percentage to be set at pricing, the payout will be par plus the gain.
If the index gains by up to the threshold, the payout will be par plus the digital return of 40% to 42%.
Investors will receive par if the index falls by up to 25% and will be fully exposed to any losses if the index finishes below the 75% barrier level.
RBC Capital Markets, LLC is the agent.
The notes will price on July 29 and settle on July 31.
The Cusip number is 78012KFS1.
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