RBC plans buffered enhanced participation notes on iShares MSCI EM

By Susanna Moon

Chicago, Nov. 26 - Royal Bank of Canada plans to price 0% buffered enhanced participation notes linked to the iShares MSCI Emerging Markets index fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will mature between 18 and 21 months after pricing.

The payout at maturity will be par plus 175% of any gain in the index, up to a maximum settlement amount of $1,157.50 to $1,192.50 per $1,000 principal amount. The exact cap will be set at pricing.

Investors will receive par if the index falls by up to 10% and will lose 1.1111% for each 1% decline beyond 10%.

RBC Capital Markets, LLC is the agent.

The Cusip number is 78008SRB4.

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