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RBC plans two-year barrier absolute return notes on iShares MSCI EM
New York, July 13 – Royal Bank of Canada plans to price 0% barrier absolute return notes due July 31, 2019 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.
If the fund finishes above the initial level, the payout at maturity will be par plus the gain.
If the fund falls but never closes below the 77% to 79% barrier level during the life of the notes, the payout will be par plus the absolute value of the return.
Otherwise, investors will lose 1% for each 1% decline.
RBC Capital Markets, LLC is the agent.
The notes will price on July 26 and settle on July 31.
The Cusip number is 78012K3A3.
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