RBC to price barrier booster notes due 2025 linked to the Dow, S&P

By Sarah Lizee

Olympia, Wash., May 6 – Royal Bank of Canada plans to price 0% barrier booster notes due June 2, 2025 linked to the worse performing of the Dow Jones industrial average and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final level of the lesser performing index is greater than or equal to its initial level but not by more than the booster coupon, 35% to 45%, the payout at maturity will be par plus the booster coupon.

If the final level of the lesser performing index is greater than the booster coupon, the payout will be par plus the return of the lesser performing index.

If the lesser performing index falls by up to 40%, the payout will be par.

Otherwise, investors will be exposed to the decline of the lesser performing index from its initial level.

RBC Capital Markets, LLC is the agent.

The notes will price on May 28.

The Cusip number is 78013X7A0.

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