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RBC to price leveraged buffered notes linked to S&P 500 index
By Jennifer Chiou
New York, May 16 - Royal Bank of Canada plans to price 0% leveraged buffered notes linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The tenor of the notes is expected to be 24 to 27 months.
The payout at maturity will be par plus 140% of any index gain, subject to a maximum settlement amount of $1,196 to $1,238 per $1,000 principal amount of notes. The exact cap will be set at pricing.
Investors will receive par if the index declines by 12.5% or less and will lose 1.1429% for every 1% that it declines beyond 12.5%.
The notes (Cusip: 78008SW93) are expected to price in May.
RBC Capital Markets, LLC is the underwriter.
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