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RBC to price buffered return optimization notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Aug. 1 - Royal Bank of Canada plans to price 0% buffered return optimization securities due Aug. 29, 2014 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus double any gain in the index, up to a maximum return of 17% to 20% that will be set at pricing. Investors will receive par if the index falls by up to 10% and will lose 1% for each 1% that it declines beyond 10%.
The notes are expected to price Aug. 28 and settle Aug. 31.
UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.
The Cusip number is 78008D786.
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