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RBC plans Buffered PLUS due 2016 with 18.2% cap linked to S&P 500
By Susanna Moon
Chicago, Jan. 6 - Royal Bank of Canada plans to price 0% Buffered Performance Leveraged Upside Securities due August 2016 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus double any index gain, up to a maximum return of $11.82 per note.
Investors will receive par if the index falls by up to 10% and will lose 1% for every 1% decline beyond 10%.
RBC Capital Markets, LLC is the underwriter with Morgan Stanley Wealth Management as the dealer.
The notes will price on Jan. 31 and settle three days later in February.
The Cusip number is 78010Y422.
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