RBC plans bullish barrier enhanced return notes on 10 financial stocks

By Wendy Van Sickle

Columbus, Ohio, Jan. 29 – Royal Bank of Canada plans to price 0% bullish barrier enhanced return notes due Aug. 11, 2018 linked to a basket of 10 financial sector stocks, according to an FWP filed with the Securities and Exchange Commission.

The basket consists of equal weights of the common stocks of BB&T Corp., Popular, Inc., Comerica Inc., Fifth Third Bancorp, JPMorgan Chase & Co., Morgan Stanley, M&T Bank Corp., PNC Financial Services Group, Inc., U.S. Bancorp and Wells Fargo & Co.

The payout at maturity will be par plus 120% of any basket gain, up to a maximum return of 37.75% to 43.25%.

If the basket falls by 30% or less, investors will receive par. If the basket declines by more than 30%, investors will be fully exposed to the loss.

RBC Capital Markets, LLC is the agent.

The notes will price on Feb. 5 and settle on Feb. 10.

The Cusip number is 78012KLD7.

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