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RBC plans bullish enhanced return notes with cap linked to S&P 500
By Susanna Moon
Chicago, Jan. 11 – Royal Bank of Canada plans to price 0% bullish enhanced return notes due March 30, 2017 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 plus 300% of any index gain, up to a maximum return of 10% to 15%. The exact cap will be set at pricing.
Investors will be exposed to any losses.
RBC Capital Markets, LLC is the agent.
The notes will price on Jan. 26 and settle on Jan. 29.
The Cusip number is 78012KKL0.
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