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RBC plans leveraged equity index-linked notes tied to S&P 500
By Jennifer Chiou
New York, Jan. 5 - Royal Bank of Canada plans to price 0% leveraged equity index-linked notes tied to the S&P 500, according to a 424B2 filing with the Securities and Exchange Commission.
The maturity date is expected to be between 18 and 21 months after issue.
If the index return is positive, the payout at maturity will be par plus five times the gain in the index, subject to a maximum payment of $1,185 to $1,215 per $1,000 principal amount. Investors will be fully exposed to losses if the index falls.
RBC Capital Markets, LLC is the agent.
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