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RBC plans dual direction trigger PLUS on VanEck Vectors Gold Miners
By Susanna Moon
Chicago, April 21 – Royal Bank of Canada plans to price 0% dual directional trigger Performance Leveraged Upside Securities due Aug. 2, 2018 linked to the VanEck Vectors Gold Miners exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any gain in the index, up to a maximum return 15%.
If the index finishes below its initial level but at or above the 75.5% trigger level, the payout will be par plus the absolute value of the return.
If the index falls by more than 24.5%, investors will be fully exposed to losses.
RBC Capital Markets, LLC is the agent. Morgan Stanley Wealth Management as dealer.
The notes will price on April 28 and settle on May 3.
The Cusip number is 78014E646.
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