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RBC plans buffered bullish enhanced return notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., May 20 – Royal Bank of Canada plans to price 0% buffered bullish enhanced return notes due May 31, 2018 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 150% of the index return, subject to a maximum return of 14%. Investors will receive par if the index declines by up to the buffer amount and will lose 1% for every 1% that it may decline beyond the buffer amount, which is expected to be 17.5% to 20.5% and will be set at pricing.
RBC Capital Markets, LLC is the agent.
The notes are expected to price May 26.
The Cusip number is 78012KPG6.
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