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RBC plans to price buffered absolute return notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., June 11 – Royal Bank of Canada plans to price 0% buffered absolute return notes due March 28, 2025 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 the index return.
If the index return is zero or negative but greater than or equal to negative 20%, the payout will be par plus the absolute value of the index return.
If the index return is less than negative 20%, investors will lose 1% for every 1% that the index declines beyond 20%.
RBC Capital Markets, LLC is the agent.
The notes will price June 25.
The Cusip number is 78013XTU2.
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