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RBC plans buffered bullish enhanced return notes tied to S&P 500 index
By Toni Weeks
San Diego, May 7 - Royal Bank of Canada plans to price 0% buffered bullish enhanced return notes due Nov. 29, 2013 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 150% of any increase in the index, subject to a maximum return of 12.75% to 16.75%. The exact maximum return will be set at pricing.
Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
The notes (Cusip: 78008T6X7) will price May 25 and settle May 31.
RBC Capital Markets, LLC is the agent.
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