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RBC to price barrier absolute return notes linked to S&P 500 index
New York, June 10 – Royal Bank of Canada plans to price 0% absolute return barrier notes due July 2, 2018 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus the index return.
The payout will be par plus the absolute value of the index return if the index declines but ends at or above the barrier level. The barrier level will be 70.5% to 73.5% of the initial level and will be set at pricing.
Investors will be fully exposed to any decline in the index if it finishes below the barrier level.
RBC Capital Markets LLC is the underwriter.
The notes will price on June 27 and settle on June 30.
The Cusip number is 78012KQF7.
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