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RBC plans buffered bullish enhanced return notes linked to S&P 500
By Susanna Moon
Chicago, Jan. 7 - Royal Bank of Canada plans to price 0% buffered bullish enhanced return notes due July 31, 2012 based on the performance of the S&P 500 index, according to an FWP 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 10% to 14%. The exact cap will be set at pricing.
Investors will receive par if the index falls by up to 10% and will be exposed to any decline beyond 10%.
The notes (Cusip: 78008KXQ1) will price on Jan. 26 and settle on Jan. 31.
RBC Capital Markets, LLC is the underwriter.
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