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RBC plans bullish barrier enhanced return notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Jan. 4 – Royal Bank of Canada plans to price 0% bullish barrier enhanced return notes due July 31, 2019 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 150% of the index return, subject to a maximum return that is expected to be 36.75% to 41.75% and will be set at pricing. If the index return is between zero and negative 30%, the payout will be par. If the index return is less than negative 30%, investors will lose 1% for every 1% that the final index level is less than the initial index level.
RBC Capital Markets, LLC is the underwriter.
The notes will price Jan. 26.
The Cusip number is 78012KKM8.
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