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RBC plans PLUS due 2017 linked to Financial Select Sector SPDR fund
By Susanna Moon
Chicago, June 14 – Royal Bank of Canada plans to price 0% Performance Leveraged Upside Securities due Sept. 21, 2017 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 plus 300% of any fund gain, up to maximum return of 14.25%.
Investors will receive par if the fund falls by up to 20% and will be fully exposed to any losses if the fund finishes below the 80% trigger level.
RBC Capital Markets, LLC is the agent with distribution through Morgan Stanley Wealth Management.
The notes will price on June 17 and settle on June 22.
The Cusip number is 78014C285.
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