RBC Unveils Market Linked Notes Tied to Carrier Global Stock

Royal Bank of Canada has announced the issuance of Market Linked Securities tied to Carrier Global Corporation common stock. These securities, also known as notes, are designed to provide investors with a potentially attractive return while offering some protection against downside risk.

The notes have a face value of $1,000 and were priced on September 28, 2026. They mature on October 3, 2028, and feature an automatic call window from March 2027 through June 2028.

One key feature of these securities is the contingent coupon rate, which stands at a minimum of 10.75% per annum. This means that if Carrier Global's closing stock price meets or exceeds its initial value on any calculation date, investors will receive a quarterly payment of at least $275.25 (10.75% of $2,550).

However, if the ending value is below the downside threshold of 80% of the starting value at maturity, investors will receive Carrier Global shares instead of cash.