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RBC plans buffered bullish enhanced return notes tied to S&P 500 index
By Susanna Moon
Chicago, June 7 - Royal Bank of Canada plans to price 0% buffered bullish enhanced return notes due July 31, 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 1.5 times any gain in the index, up to a maximum return of 11.5% to 15.5%. 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%.
RBC Capital Markets, LLC is the agent.
The notes will price on June 26 and settle on June 29.
The Cusip number is 78008SCC8.
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