RBC plans to price 0% return enhanced notes linked to S&P 500

By Toni Weeks

San Luis Obispo, Calif., Sept. 4 – Royal Bank of Canada plans to price 0% return enhanced notes due Sept. 23, 2015 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par plus double any gain in the index, subject to a maximum return of 12.9%.

Investors will be fully exposed to any losses.

The final index level will be the average of the closing index level on the five trading days ending Sept. 18, 2015.

The notes (Cusip: 78010UV95) are expected to price Sept. 5 and settle Sept. 10.

RBC Capital Markets, LLC is the underwriter with J.P. Morgan Securities LLC as placement agent.

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