RBC plans trigger performance notes linked to Vanguard FTSE EM ETF

By Marisa Wong

Morgantown, W.Va., Dec. 24 – Royal Bank of Canada plans to price 0% trigger performance securities due Dec. 31, 2020 linked to the Vanguard FTSE Emerging Markets exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.

If the fund return is positive, the payout at maturity will be par of $10 plus 132% to 142% of the fund return. The exact participation rate will be set at pricing.

If the fund return is zero or negative and the fund’s final share price is greater than or equal to the trigger price, 75% of the initial share price, the payout will be par.

If the final share price is less than the trigger price, investors will be fully exposed to the decline in the fund from its initial share price.

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

The notes are expected to price Dec. 28.

The Cusip number is 78013C302.

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