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RBC plans buffered bullish return notes linked to S&P 500 index
By Jennifer Chiou
New York, April 11 - Royal Bank of Canada plans to price 0% buffered bullish return notes due April 29, 2015 linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.
The payout at maturity will be par plus any increase in the index, subject to a maximum return of 9% to 13% that will be set at pricing.
Investors will receive par if the index declines by 20% or less and will lose 1% for every 1% that it declines beyond 20%.
The notes (Cusip: 78008SN85) will price on April 24 and settle on April 29.
RBC Capital Markets, LLC is the agent.
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