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RBC aims to price capped gears due 2018 tied to energy fund
By Wendy Van Sickle
Columbus, Ohio, Nov. 2 – Royal Bank of Canada plans to price 0% capped gears due Jan. 31, 2018 linked to the Energy Select Sector SPDR fund, according to an FWP filing with the Securities and Exchange Commission.
If the fund finishes above its initial level, the payout at maturity will be par plus triple the gain, up to a maximum gain of 24% to 27%. The exact cap will be set at pricing.
If the fund return is negative, investors will lose 1% for each 1% decline.
UBS Financial Services Inc. is the agent.
The notes (Cusip: 78014C673) will price on Nov. 28 and settle on Nov. 30.
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