RBC plans callable contingent coupon barrier notes tied to indexes

By Wendy Van Sickle

Columbus, Ohio, Dec. 5 – Royal Bank of Canada plans to price callable contingent coupon barrier notes due Dec. 19, 2019 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 7.4% to 8.1% if each index closes at or above its 75% barrier level on an observation date for that quarter.

The notes will be callable on any quarterly observation date after one year.

The payout at maturity will be par unless any index finishes below the 75% barrier level, in which case investors will be fully exposed to any losses of the worst performing index.

RBC Capital Markets, LLC is the underwriter.

The notes will price on Dec. 16 and settle on Dec. 21.

The Cusip number is 78012KWE3.

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