RBC to price callable contingent coupon barrier notes on four indexes

By Sarah Lizee

Olympia, Wash., Jan. 22 – Royal Bank of Canada plans to price issuer callable contingent coupon barrier notes due July 29, 2025 linked to the least performing of the Russell 2000 index, the S&P 500 index and the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

The notes pay a contingent quarterly coupon at an annualized rate of 5.25% if each underlying asset closes at or above its coupon barrier, 60% of its initial level, on the related quarterly observation date.

The notes will be callable in whole at par on any contingent coupon payment date starting Jan. 25, 2021.

If each asset finishes at or above its trigger level, 60% of its initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least performing asset.

RBC Capital Markets, LLC is the agent.

The notes are expected to price on Jan. 24.

The Cusip number is 78015KRS5.

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