RBC to price callable contingent coupon barrier notes on three indexes

By Marisa Wong

Morgantown, W.Va., Oct. 19 – Royal Bank of Canada plans to price issuer callable contingent coupon barrier notes due Oct. 27, 2020 linked to the least performing of the Russell 2000 index, the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes pay a contingent quarterly coupon at an annualized rate of 9.9% if each underlying asset closes at or above its coupon barrier, 70% of its initial level, on the related quarterly observation date.

The notes will be callable in whole at par on any contingent coupon payment date.

If each asset finishes at or above its trigger level, 65% of its initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least performing asset.

RBC Capital Markets, LLC is the agent.

The notes are expected to price on Oct. 22.

The Cusip number is 78013XQ68.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.