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RBC aims to price barrier enhanced return notes tied to indexes
By Wendy Van Sickle
Columbus, Ohio, Feb. 16 – Royal Bank of Canada plans to price 0% barrier enhanced return notes due March 1, 2021 linked to the S&P 500 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 114% to 122% of any gain of the lesser performing index.
Investors will receive par if the lesser performing index falls by up to 50% and will be fully exposed to the decline of the lesser performing index if it falls beyond the 50% barrier level.
RBC Capital Markets, LLC is the underwriter.
The notes (Cusip: 78012KB48) will price on Feb. 24 and settle on Feb. 28.
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