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RBC plans six-year barrier booster notes with no cap tied to S&P 500
By Susanna Moon
Chicago, Jan. 10 – Royal Bank of Canada plans to price barrier booster notes due Jan. 31, 2023 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index gains by more than 47.5% to 52.5%, the payout at maturity will be par plus the return. The exact booster percentage will be set at pricing.
If the index gains by up to the booster percentage, the payout will be par plus the booster coupon of 47.5% to 52.5%.
Investors will receive par if the index falls by up to 30% and will be fully exposed to any losses if the index finishes below the 70% barrier level.
RBC Capital Markets, LLC is the underwriter.
The notes will price on Jan. 26 and settle on Jan. 31.
The Cusip number is 78012KYE1.
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