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RBC to price buffered bullish return notes linked to S&P 500 index
By Jennifer Chiou
New York, Oct. 16 – Royal Bank of Canada plans to price 0% buffered bullish return notes due March 29, 2017 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 plus the index return.
Investors will receive par if the index declines by 20% or less and will lose 1% for every 1% decline in the index beyond the 20% buffer.
The notes (Cusip: 78010U4P9) will price on Oct. 28 and settle on Oct. 31.
RBC Capital Markets, LLC is the agent.
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