RBC plans buffered return optimization notes linked to financial stocks

By Marisa Wong

Morgantown, W.Va., March 9 – Royal Bank of Canada plans to price 0% buffered return optimization securities due March 29, 2018 linked to a basket of 10 equally weighted common stocks, according to an FWP filing with the Securities and Exchange Commission.

The underlying companies are American International Group, Inc., Ameriprise Financial, Inc., Bank of America Corp., Citigroup Inc., Capital One Financial Corp., Discover Financial Services, Goldman Sachs Group, Inc., Invesco, Ltd., JPMorgan Chase & Co. and Wells Fargo & Co.

The payout at maturity will be par plus 1.5 times any gain in the basket, up to a maximum gain of 24.5% to 27.5%. The exact cap will be set at pricing.

Investors will receive par if the basket falls by up to 10% and will lose 1% for every 1% decline beyond 10%.

UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.

The notes will price on March 28 and settle on March 31.

The Cusip number is 78013C807.

© 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.