RBC plans two-year absolute return barrier notes tied to EAFE

By Sarah Lizee

Olympia, Wash., July 17 – Royal Bank of Canada plans to price 0% absolute return barrier notes due July 30, 2021 linked to the MSCI EAFE index, according to a 424B2 filing with the Securities and Exchange Commission.

If the underlying asset never closes below its 72.5% to 73.5% threshold level, the payout at maturity will be par plus the absolute value of the return.

Otherwise, investors will lose 1% for every 1% decline.

RBC Capital Markets, LLC is the agent.

The notes will price on July 26.

The Cusip number is 78013XX45.

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