Royal Bank of Canada (RBC) announced terms for two market-linked securities issues on September 28, 2026.
The first offering features auto-callable, contingent coupon notes. These notes link to Carrier Global Corporation common stock. They mature in October 2028. These notes offer a minimum 10.75% per annum contingent coupon. Payments occur quarterly. The coupon is contingent on the underlying stock remaining at or above 80% of its initial value.
The second offering involves Accelerated Return Notes. These notes link to the SPDR S&P Regional Banking ETF (KRE). They have an approximate 14-month term. Investors receive 300% participation in the ETF's upside. This participation is capped at a return between 20.50% and 24.50%. However, investors face full downside risk. The notes offer no principal protection.
Neither structured note offering will list on any securities exchange.