RBC intends to price barrier booster notes due 2025 linked to S&P 500

By Sarah Lizee

Olympia, Wash., Sept. 20 – Royal Bank of Canada plans to price 0% barrier booster notes due Sept. 30, 2025 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 the booster percentage of 35% to 45%, the payout at maturity will be par plus the index 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 35% to 45%, with the exact booster coupon to be set at pricing.

Investors will receive par if the index falls by up to 25% and will lose 1% for each 1% decline of the index from its initial level if the index finishes below the 75% barrier level.

RBC Capital Markets LLC is the underwriter.

The notes (Cusip: 78015KEA8) will price on Sept. 25.

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