RBC plans 6.5%-7.5% contingent coupon barrier callables on indexes

By Susanna Moon

Chicago, Jan. 10 – Royal Bank of Canada plans to price issuer callable contingent coupon barrier notes due July 24, 2023 linked to lesser performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 6.5% to 7.5% if each underlying index closes at or above its 65% coupon barrier on any determination date for that quarter.

The notes are callable at par on any coupon payment date after six months.

The payout at maturity will be par unless either index finishes below the 65% trigger 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 Jan. 19 and settle on Jan. 24.

The Cusip number is 78013XDA3.

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