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RBC to price jump securities linked to Financial Select Sector SPDR
By Angela McDaniels
Tacoma, Wash., April 13 – Royal Bank of Canada plans to price 0% jump securities due May 27, 2016 linked to the Financial Select Sector SPDR Fund, according to an FWP filing with the Securities and Exchange Commission.
If the final share price is greater than or equal to the initial share price, the payout at maturity will be par of $10 plus 10%. If the final share price is less than the initial share price, investors will have one-to-one exposure to the decline.
RBC Capital Markets, LLC is the agent. Distribution is through Morgan Stanley Wealth Management.
The notes are expected to price April 24 and settle April 29.
The Cusip number is 780082772.
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