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RBC plans to price PLUS due 2018 tied to Financial Select Sector SPDR
By Devika Patel
Knoxville, Tenn., Jan. 27 – Royal Bank of Canada plans to price 0% Performance Leveraged Upside Securities due Aug. 3, 2018 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 payout of 20.1%.
Investors will lose 1% for each 1% decline.
RBC Capital Markets Corp. is the underwriter.
The notes (Cusip: 78014E331) will price on Jan. 31 and settle on Feb. 3.
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