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RBC plans buffered bullish digital notes linked to S&P 500 index
By Jennifer Chiou
New York, Oct. 2 - Royal Bank of Canada plans to price 0% buffered bullish digital notes due Oct. 20, 2011 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes above its initial level, the payout at maturity will be par plus the 13% digital coupon.
Investors will receive par if the index falls by 15% or less and will be exposed to losses beyond 15%.
The notes will price on Oct. 15 and settle on Oct. 20.
RBC Capital Markets Corp. is the underwriter.
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