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RBC to price market-linked step-up notes on Stoxx Global Select Dividend 100
By Sarah Lizee
Olympia, Wash., Jan. 10 – Royal Bank of Canada plans to price 0% market-linked step-up notes due January 2022 linked to the Stoxx Global Select Dividend 100 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index increases above the step-up value, 131% to 137% of the initial value, the payout at maturity will be par plus any gain in the index.
If the index is flat or increases up to the step-up value, the payout will be par plus a fixed return of 31% to 37%.
Investors will be exposed to any declines in the index.
BofA Securities, Inc. is the agent.
The notes will price in January.
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