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RBC plans leveraged buffered notes on iShares MSCI Emerging Markets
By Toni Weeks
San Luis Obispo, Calif., May 29 – Royal Bank of Canada plans to price 0% leveraged buffered notes linked to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are expected to mature 15 to 18 months after pricing.
The payout at maturity will be par plus 1.3 times any fund gain, up to the maximum settlement amount of $1,174.20 to $1,202.80 for each $1,000 principal amount. The exact cap will be set at pricing.
Investors will receive par if the fund falls by up to 10% and will lose 1.1111% for every 1% decline beyond 10%.
The Cusip number is 78012KEK9.
RBC Capital Markets, LLC is the underwriter.
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