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RBC plans to price PLUS due 2016 tied to Financial Select Sector SPDR
By Susanna Moon
Chicago, April 10 – Royal Bank of Canada plans to price 0% Performance Leveraged Upside Securities due July 28, 2016 linked to the Financial Select Sector SPDR Fund, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 300% of any fund gain, up to a maximum return of 13.2%.
Investors will be exposed to any losses.
RBC Capital Markets, LLC is the agent. Morgan Stanley Smith Barney LLC is handling distribution.
The notes will price on April 24 and settle on April 29.
The Cusip number is 780082780.
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