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RBC to price 17- to 20-month digital notes linked to S&P 500
By Marisa Wong
Morgantown, W.Va., Jan. 29 – Royal Bank of Canada plans to price 0% digital notes linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will mature between 17 and 20 months after pricing.
If the index return is greater than or equal to negative 10%, the payout at maturity will be the threshold settlement amount, $1,085.10 to $1,100 per $1,000 principal amount of notes. Otherwise, investors will lose 1.1111% for every 1% that the index declines beyond 10%.
RBC Capital Markets, LLC is the agent.
The Cusip number is 78013XEQ7.
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