RBC plans absolute return notes due 2021 with 70% barrier tied to Dow

By Susanna Moon

Chicago, Nov. 11 – Royal Bank of Canada plans to price 0% absolute return notes due March 4, 2021 linked to the Dow Jones industrial average, according to an FWP filing with the Securities and Exchange Commission.

If the index finishes above the initial level, the payout at maturity will be par plus 100% to 108% of the gain.

If the index falls but finishes above the 70% barrier level, the payout will be par plus the absolute value of the return.

Otherwise, investors will be fully exposed to any losses.

RBC Capital Markets, LLC is the agent.

The notes will price on Nov. 28 and settle on Nov. 30.

The Cusip number is 78012KVH7.

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