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RBC plans contingent return optimization notes tied to S&P 500 via UBS
By Toni Weeks
San Diego, Dec. 2 - Royal Bank of Canada plans to price 0% contingent return optimization securities due Dec. 31, 2013 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the final index level is at least 65% of the initial level, the payout at maturity will be par plus the greater of the 6% contingent return and the index return, subject to a maximum return of 21% to 25%. The exact maximum return will be determined at pricing.
If the final index level is less than 65% of the initial level, investors will be fully exposed to the decline.
The notes (Cusip: 78010W269) are expected to price Dec. 27 and settle Dec. 30.
UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.
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