RBC to price one-year capped gears linked to SPDR S&P Oil & Gas ETF

By Marisa Wong

Morgantown, W.Va., March 27 – Royal Bank of Canada plans to price 0% capped gears due May 31, 2018 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the fund finishes above its initial level, the payout at maturity will be par plus 3 times the gain, up to a maximum return of 26.8% to 28.8%. The exact cap will be set at pricing.

If the fund return is negative, investors will lose 1% for each 1% decline.

RBC Capital Markets, LLC and UBS Financial Services Inc. are the agents.

The notes are expected to price March 28.

The Cusip number is 78014E463.

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