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RBC to price 0% bullish barrier return notes tied to S&P 500 index
By Jennifer Chiou
New York, May 9 - Royal Bank of Canada plans to price 0% bullish barrier return notes due May 30, 2014 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any index gain, up to a maximum return of 24%.
Investors will receive par if the index falls by up to 27% to 31% and will be fully exposed to losses from the initial level if the index declines by more than the to-be-set barrier level.
The notes (Cusip: 78008T6Z2) will price on May 25 and settle on May 31.
RBC Capital Markets, LLC is the agent.
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