RBC plans buffered enhanced participation notes linked to S&P 500

By Toni Weeks

San Diego, Nov. 5 - Royal Bank of Canada plans to price 0% buffered enhanced participation equity securities linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.

The notes will mature between 26 and 30 months after pricing.

The payout at maturity will be par plus two times any gain in the index, up to a maximum return of $1,200 to $1,240 per $1,000 principal amount. The exact cap will be set at pricing.

Investors will receive par if the index falls by up to 10% and will lose 1.1111% for each 1% decline beyond 10%.

RBC Capital Markets, LLC is the agent.

The Cusip number is 78008SPM2.

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