RBC plans two-year buffered enhanced return notes linked to S&P 500

By Susanna Moon

Chicago, June 16 – Royal Bank of Canada plans to price 0% buffered enhanced notes due July 2, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 150% of any index gain, up to a maximum return of 14%.

Investors will receive par if the index falls by up to the 18.5% to 21.5% buffer and will lose 1% for every 1% decline beyond the buffer, with the exact percentage to be set at pricing.

RBC Capital Markets, LLC is the agent.

The notes will price on June 27 and settle on June 30.

The Cusip number is 78012KQG5.

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