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RBC plans buffered bullish enhanced return notes linked to S&P 500
By Susanna Moon
Chicago, April 8 - Royal Bank of Canada plans to price 0% buffered bullish enhanced return notes due April 29, 2013 linked to the S&P 500 index, according to a 424B5 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 108.5% to 113.5% of any index gain, with the exact participation rate to be set at pricing.
Investors will receive par if the index falls by 15% or less and will lose 1% for every 1% decline beyond 15%.
The notes will price on April 24 and settle on April 29.
RBC Capital Markets Corp. is the underwriter.
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