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RBC plans two-year buffered bullish booster notes on S&P 500 index
By Jennifer Chiou
New York, Feb. 6 - Royal Bank of Canada plans to price 0% buffered bullish booster notes due Feb. 27, 2014 linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.
If the index gains by more than 10%, the payout at maturity will be par plus the return, up to a maximum return of 19.5% to 23.5%. The exact cap will be set at pricing.
If the index gains by up to 10%, the payout will be par plus the booster coupon of 10%.
Investors will receive par if the index falls by up to 10% and will be exposed to any decline beyond 10%.
The notes (Cusip: 78008TR55) will price on Feb. 24 and settle on Feb. 29.
RBC Capital Markets, LLC is the underwriter.
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