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RBC to price return optimization securities linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Aug. 23 - Royal Bank of Canada plans to price 0% return optimization securities due Sept. 30, 2014 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus triple the index return, subject to a maximum return of 9.25% to 11.25% that will be set at pricing. If the index return is negative, investors will be exposed to the decline.
UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.
The notes will price Aug. 27 and settle Aug. 30.
The Cusip number is 78009Q315.
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