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RBC plans buffered bullish enhanced return notes linked to S&P 500
By Susanna Moon
Chicago, Dec. 3 – Royal Bank of Canada plans to price 0% buffered bullish enhanced return notes due Jan. 2, 2020 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 120% of any index gain, up to a maximum return of 50% to 60%. The exact cap will be set at pricing.
Investors will receive par if the index fall by up to 20% and will lose 1% for each 1% decline beyond 20%.
RBC Capital Markets, LLC is the agent.
The notes will price on Dec. 29 and settle on Dec. 31.
The Cusip number is 78010U6E2.
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