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RBC plans five-year barrier absolute return notes tied to S&P 500
By Susanna Moon
Chicago, June 12 – Royal Bank of Canada plans to price 0% barrier absolute return notes due June 29, 2023 linked to S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the underlying asset finishes at or above its initial level, the payout at maturity will be par plus 118% to 128% of the index gain.
If the index falls by up to 20%, the payout will be par plus the absolute value of the return.
Otherwise, investors will lose 1% for every 1% decline.
RBC Capital Markets, LLC is the agent.
The notes will price on June 29.
The Cusip number is 78013XMG0.
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