RBC plans to price contingent barrier enhanced notes linked to Apple

By Angela McDaniels

Tacoma, Wash., Sept. 25 – Royal Bank of Canada plans to price 0% contingent barrier enhanced notes due Oct. 16, 2015 linked to the common stock of Apple Inc., according to an FWP filing with the Securities and Exchange Commission.

If the final share price is greater than or equal to the initial share price, the payout at maturity will be par plus 200% of the stock return, subject to a maximum return of 18%. If the share price declines by 20% or less, the payout will be par. If the share price declines by more than 20%, investors will lose 1% for every 1% that the final share price is less than the initial share price.

RBC Capital Markets, LLC is the underwriter. J.P. Morgan Securities LLC is the placement agent.

The notes are expected to price Sept. 26 and settle Oct. 1.

The Cusip number is 78010U3H8.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.