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RBC plans to price barrier booster notes linked to S&P 500 index
By Angela McDaniels
Tacoma, Wash., Sept. 11 – Royal Bank of Canada plans to price 0% barrier booster notes due Oct. 2, 2023 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index return is greater than the booster, the payout at maturity will be par plus the index return. The booster is expected to be 35.6% to 42.6% and will be set at pricing.
If the index return is positive but does not exceed the booster, the payout will be par plus the booster.
If the index return is zero to negative 25%, the payout will be par.
If the index return is less than negative 25%, investors will lose 1% for every 1% that the final level is less than the initial level.
RBC Capital Markets, LLC is the underwriter.
The notes are expected to price Sept. 27.
The Cusip number is 78012K6H5.
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