RBC plans contingent coupon barrier notes linked to three indexes

By Angela McDaniels

Tacoma, Wash., Feb. 5 – Royal Bank of Canada plans to price callable contingent coupon barrier notes due Feb. 25, 2020 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.

If each index closes at or above its trigger level, 75% of its initial level, on a quarterly observation day, the notes will pay a contingent coupon that quarter at the rate of 9% per year plus any previously unpaid contingent coupons.

The notes will be callable at par on any coupon payment date other than the final coupon payment date.

The payout at maturity will be par unless any index finishes below its trigger level, in which case investors will be exposed to the decline of the least-performing index from its initial level.

RBC Capital Markets, LLC is the underwriter.

The notes will price Feb. 8.

The Cusip number is 78013XYS1.

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