RBC plans to price digital plus barrier notes tied to Alibaba

By Emma Trincal

New York, Nov. 16 – Royal Bank of Canada plans to price 0% digital plus barrier notes due Dec. 10, 2021 linked to the American depositary receipts of Alibaba Group Holding Ltd., according to an FWP filing with the Securities and Exchange Commission.

If the final level is greater than or equal to the barrier level, 80% of the initial level, but less than or equal to 120% of the initial level, the payout will be the greater of par plus the return and par plus 8%.

If the final level is greater than 120% of the initial level, the payout will be par plus 20%.

If the final level is less than 80% of the initial level, investors will receive a number of shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.

RBC Capital Markets, LLC is the underwriter.

The notes will price on Nov. 30 and settle on Dec. 3.

The Cusip number is 78013GYW9.

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