RBC plans to price buffered enhanced return notes tied to the S&P 500

By Devika Patel

Knoxville, Tenn., Jan. 12 – Royal Bank of Canada plans to price 0% buffered enhanced return notes due Jan. 31, 2019 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final index level is greater than the initial index level, the payout at maturity will be 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 percentage of 19% to 22% and will lose 1% for every 1% decline beyond the buffer, which will be set at pricing along with the cap.

RBC Capital Markets, LLC is the underwriter.

The notes (Cusip: 78012KYS0) will price on Jan. 26 and settle on Jan. 31.

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