RBC to price contingent coupon barrier notes linked to indexes, ETF

By Sarah Lizee

Olympia, Wash., Oct. 25 – Royal Bank of Canada plans to price contingent coupon barrier notes due Oct. 29, 2020 linked to the least performing of the Nikkei 225 index, the Euro Stoxx 50 index and the SPDR S&P Oil & Gas Exploration & Production ETF, according to an FWP filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon if each asset closes at or above its trigger level, 70% of its initial level, on each trading day during that quarter. The contingent coupon rate is expected to be 10.46% per year and will be set at pricing.

The payout at maturity will be par unless any asset finishes below its trigger level, in which case investors will be exposed to the decline of the least-performing asset from its initial level.

RBC Capital Markets, LLC is the underwriter. JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are placement agents.

The notes will price on Oct. 26 and settle on Oct. 31.

The Cusip number is 78013XQ92.

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