RBC plans buffered equity notes linked to S&P 500 via Goldman Sachs

By Toni Weeks

San Diego, Jan. 17 - Royal Bank of Canada plans to price 0% buffered equity index-linked notes due 2013 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are expected to mature 22 to 25 months after issue.

If the final index level is at least 80% of the initial level, the payout at maturity will equal the digital payment, which is expected to be $1,080 to $1,094 per $1,000 principal amount. The exact maximum settlement amount will be determined at pricing.

Otherwise, investors will lose 1.25% for every 1% decline beyond the 20% buffer.

Goldman Sachs & Co. is the underwriter.

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