RBC intends to price buffered enhanced return notes linked to the Dow

By Devika Patel

Knoxville, Tenn., July 14 – Royal Bank of Canada plans to price 0% buffered enhanced return notes due July 31, 2023 linked to the Dow Jones Industrial Average, according to a 424B2 filing with the Securities and Exchange Commission.

If the final index level is greater than the initial index level, the payout at maturity will be par of $1,000 plus 101.5% to 109.5% of the index return. The exact participation rate will be set at pricing.

Investors will receive par if the index declines by up to the buffer percentage of 20% and will lose 1% for every 1% decline beyond the buffer.

RBC Capital Markets, LLC is the agent.

The notes (Cusip: 78012K2H9) will price on July 26 and settle on July 31.

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