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RBC to price buffered enhanced return notes due 2018 linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Dec. 9 – Royal Bank of Canada plans to price 0% buffered enhanced return notes due Dec. 26, 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 the buffer amount or less and will lose 1% for every 1% that the index may decline beyond the buffer amount. The buffer amount is expected to be 17.75% to 20.75% and will be set at pricing.
RBC Capital Markets, LLC is the underwriter.
The notes will price Dec. 20.
The Cusip number is 78012KXJ1.
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