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RBC plans buffered bullish enhanced notes with quarterly averaging linked to indexes, funds
By Susanna Moon
Chicago, Jan. 29 - Royal Bank of Canada plans to price 0% buffered bullish enhanced return notes with averaging due Feb. 20, 2018 linked to a basket of indexes and exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the S&P 500 index with a 57% weight, the S&P MidCap 400 index with a 10% weight, the Russell 2000 index with a 8% weight, the iShares MSCI EAFE ETF with a 20% weight and the iShares MSCI Emerging Markets ETF with a 5% weight.
If the average percentage change of the basket over 16 quarterly observation dates is positive, the payout at maturity will be par plus 200% to 220% of the average percentage change.
Investors will receive par if the basket falls by up to 20% and will lose 1.25% for each 1% decline beyond 20%.
RBC Capital Markets, LLC is the agent.
The notes will price on Feb. 14 and settle on Feb. 20.
The Cusip number is 78010UQA8.
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