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RBC reports plans to sell capped trigger gears linked to Russell 2000
By Devika Patel
Knoxville, Tenn., July 2 – Royal Bank of Canada plans to price 0% capped trigger gears due July 20, 2023 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is greater than zero, the payout at maturity will be par of $10 plus 2 times the index return, subject to a maximum return that is expected to be between 27% and 30% and will be set at pricing.
Investors will receive par if the index declines by 25% or less and will lose 1% for each 1% decline from its initial level if the index declines by more than 25%.
UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.
The notes (Cusip: 78014K840) will price on July 15 and settle on July 20.
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