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RBC to price five-year trigger gears tied to basket of six indexes
By Marisa Wong
Los Angeles, July 17 – Royal Bank of Canada plans to price 0% trigger gears due July 23, 2024 linked to a basket of six indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of 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 greater than zero, the payout at maturity will be par of $10 plus 3.575 to 3.605 times the basket return.
Investors will receive par if the basket declines by 25% or less and be fully exposed to the basket’s decline from its initial level if it declines by more than 25%.
RBC Capital Markets, LLC is the underwriter. UBS Financial Services Inc. is the selling agent.
The notes will price July 18.
The Cusip number is 78014J256.
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