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RBC plans to price buffered bullish digital notes linked to S&P 500
By Marisa Wong
Madison, Wis., Sept. 23 - Royal Bank of Canada plans to price 0% buffered bullish digital notes due Oct. 16, 2012 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index finishes above the initial level, the payout at maturity will be par plus a digital coupon of 10%.
Investors will receive par if the index falls by 20% or less and will lose 1% for every 1% decline beyond 20%.
The notes (Cusip: 78008KMT7) will price Oct. 11 and settle Oct. 14.
RBC Capital Markets Corp. is the underwriter.
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