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RBC to price Leveraged Index Return Notes on index basket
By Sarah Lizee
Olympia, Wash., April 4 – Royal Bank of Canada plans to price 0% Leveraged Index Return Notes due in April 2021 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket components are the Euro Stoxx 50 index with a 40% weight, the FTSE 100 index with a 20% weight, the Nikkei Stock Average index with a 20% weight, the Swiss Market index with a 7.5% weight, the S&P/ASX 200 index with a 7.5% weight and the Hang Seng index with a 5% weight.
If the basket return is positive, the payout at maturity will be par plus 130% to 150% of the basket return.
If the basket falls by up to 10%, the payout will be par.
Investors will lose 1% for each 1% decline beyond 10%.
BofA Merrill Lynch is the agent.
The notes will price in April.
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