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RBC to price trigger return optimization notes linked to Russell 2000
By Angela McDaniels
Tacoma, Wash., April 14 – Royal Bank of Canada plans to price 0% trigger return optimization securities due April 20, 2018 linked to the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus 1.5 times the index return, subject to a maximum return that is expected to be 36% to 37% and will be set at pricing. If the index return is zero or negative and the final index level is greater than or equal to the trigger level, 75% of the initial index level, the payout will be par. If the final index level is less than the trigger level, investors will have full exposure to the index’s decline.
UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.
The notes are expected to price April 15 and settle April 20.
The Cusip number is 780082806.
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