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RBC plans absolute return barrier notes tied to iShares MSCI EAFE, EM
By Susanna Moon
Chicago, Oct. 20 – Royal Bank of Canada plans to price 0% absolute return barrier securities due Oct. 28, 2021 linked to the iShares MSCI EAFE exchange-traded fund and iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If each fund finishes above the initial level, the payout at maturity will be par plus 111% of the gain of the worse performing fund.
If either fund falls by up to its 60% barrier level, the payout will be par plus the absolute value of the return of the worse performing fund.
Otherwise, investors will lose 1% for each 1% decline of the worse performing fund.
RBC Capital Markets LLC is the agent.
The notes will price on Oct. 25 and settle on Oct. 30.
The Cusip number is 22550BLW1.
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