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RBC plans 17- to 20-month leveraged buffered notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Aug. 22 - 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 notes are expected to mature 17 to 20 months after pricing.
If the index return is positive, the payout at maturity will be par plus 120% of the index return, subject to a maximum settlement amount of $1,126 to $1,174 per $1,000 principal amount of notes. The exact cap will be set at pricing. Investors will receive par if the index falls by up to 12.5% and will lose 1.1429% for every 1% that it declines beyond 12.5%.
RBC Capital Markets, LLC is the underwriter.
The Cusip number is 78010UAZ0.
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