RBC plans dual directional trigger PLUS linked to energy fund

By Marisa Wong

Madison, Wis., Dec. 16 – Royal Bank of Canada plans to price 0% dual directional trigger Performance Leveraged Upside Securities due December 2017 linked to the Energy Select Sector SPDR fund, according to an FWP filing with the Securities and Exchange Commission.

If the fund finishes above the initial level, the payout at maturity will be par of $10 plus double the gain, up to a maximum return of 32%.

If the shares fall by up to the 80% trigger price, the payout will be par plus the absolute value of the return, up to a maximum return of 20%.

Otherwise, investors will be fully exposed to any losses.

RBC Capital Markets, LLC is the agent. Morgan Stanley Wealth Management will handle distribution.

The notes will price on Dec. 19.

The Cusip number is 78011Y876.

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