RBC plans barrier enhanced return notes tied to two MSCI funds

By Sarah Lizee

Olympia, Wash., Nov. 22 – Royal Bank of Canada plans to price 0% barrier enhanced return notes due Nov. 29, 2024 linked to the lesser performing of the iShares MSCI EAFE ETF and the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.

If each fund finishes at or above its initial level, the payout at maturity will be par plus 190% to 210% of the gain of the worse performing fund.

Investors will receive par if each fund falls by no more than 35% and will be fully exposed to the losses of the worse performing fund if it finishes below the 65% barrier.

RBC Capital Markets, LLC is the agent.

The notes will price on Nov. 25.

The Cusip number is 78015KCU6.

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