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RBC plans five-year buffered bullish enhanced notes linked to S&P 500
By Susanna Moon
Chicago, March 4 – Royal Bank of Canada plans to price 0% buffered bullish enhanced return notes due March 31, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 120% of any index gain, up to a maximum return of 52% to 62%.
Investors will receive par if the index falls by up to 20% and will lose 1% for each 1% decline beyond 20%.
RBC Capital Markets, LLC is the agent.
The notes will price on March 27 and settle on March 31.
The Cusip number is 78012KCE5.
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