RBC plans to price leveraged buffered notes linked to MSCI EM ETF

By Sarah Lizee

Olympia, Wash., Jan. 9 – Royal Bank of Canada plans to price 0% leveraged buffered notes due in 19 to 22 months linked to the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 150% of any ETF gain, up to a maximum settlement amount expected to be between $1,270.15 and $1,316.95 for each $1,000 principal amount of notes.

Investors will receive par if the ETF falls by up to 12.5% and will lose 1.1429% for each 1% decline beyond 12.5%.

RBC Capital Markets, LLC is the agent.

The Cusip number is 78013XWL8.

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