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RBC plans buffered bullish enhanced return notes linked to S&P 500
By Susanna Moon
Chicago, June 21 - Royal Bank of Canada plans to price 0% buffered bullish enhanced return notes due Jan. 12, 2012 based on the performance of the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any gain in the index, up to a maximum return of 11% to 15%. The exact cap will be set at pricing.
Investors will receive par if the index falls by 15% or less and will be exposed to any decline beyond 15%.
The notes will price on July 9 and settle on July 14.
RBC Capital Markets Corp. is the underwriter.
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