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RBC to price bullish barrier booster notes linked to Euro Stoxx 50
By Toni Weeks
San Luis Obispo, Calif., April 4 - Royal Bank of Canada plans to price 0% bullish barrier booster notes due April 28, 2016 linked to the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.
If the index return is positive but not greater than 25%, the payout at maturity will be par plus a fixed return of 25%.
If the index return is greater than 25%, the payout at maturity will be par plus 110% to 130% of the percentage increase above 25% plus the 25% fixed return. The exact participation rate will be set at pricing.
Investors will receive par if the index falls by up to 25% and will be fully exposed to losses if it falls below the 75% barrier level.
The notes (Cusip: 78008SN28) will price April 26 and settle April 30.
RBC Capital Markets, LLC is the underwriter.
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