RBC plans to price buffer booster notes linked to S&P 500, Dow

By Sarah Lizee

Olympia, Wash., Sept. 24 – Royal Bank of Canada plans to price 0% buffer booster notes due Oct. 1, 2025 linked to the lesser performing of the S&P 500 index and the Dow Jones industrial average, according to an FWP filing with the Securities and Exchange Commission.

If the final level of the lesser-performing index is greater than its initial level and its percentage change exceeds the booster, 30% to 40%, the payout will be par plus the return of the lesser-performing index.

If the final level of the lesser-performing index is greater than or equal to its initial level but its percentage change does not exceed the booster, the payout at maturity will be par plus 30% to 40%.

If the final level of the lesser-performing index is less than its initial level but is not less than its buffer level, 80% of its initial level, then the payout will be par.

If the final level of the lesser-performing index is less than its buffer level, investors will lose 1% for every 1% that the lesser-performing index declines beyond 20%.

RBC Capital Markets, LLC is the underwriter.

The notes will price on Sept. 26.

The Cusip number is 78015KAT1.

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