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RBC plans contingent return optimization securities linked to S&P 500
By Toni Weeks
San Luis Obispo, Calif., June 5 – Royal Bank of Canada plans to price 0% contingent return optimization securities due June 30, 2017 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index finishes at or above the 80% trigger level, the payout at maturity will be par of $10 plus the greater of the 6% contingent return and any index gain, up to a maximum return of 24.5% to 30.5% that will be set at pricing.
Otherwise, investors will be fully exposed to any losses.
The notes (Cusip: 78011Q568) are expected to price June 25 and settle June 30.
UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.
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