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RBC plans barrier enhanced return notes tied to Financial Select Sector SPDR
By Susanna Moon
Chicago, Aug. 14 – Royal Bank of Canada plans to price 0% barrier enhanced return notes due Sept. 2, 2020 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 200% of any fund gain, up to a maximum return of 16% to 20%.
Investors will receive par if the fund falls by up to 25% and will lose 1% for each 1% decline if the fund finishes below its 75% barrier level.
RBC Capital Markets, LLC is the underwriter.
The notes will price on Aug. 28 and settle on Aug. 31.
The Cusip number is 78013XSN9.
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