RBC plans to price five-year buffered bullish notes linked to S&P 500

By Susanna Moon

Chicago, Sept. 8 - Royal Bank of Canada plans to price 0% buffered bullish notes due Sept. 18, 2015 based on the performance of the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par plus any gain in the index, up to a maximum return of 70.75% to 74.25%. The exact cap will be set at pricing.

Investors will receive par if the index falls by 20% or less and will be exposed to any decline beyond 20%.

The notes (Cusip 78008KKR3) will price on Sept. 15 and settle on Sept. 20.

RBC Capital Markets Corp. is the underwriter.

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