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RBC plans market-linked notes with leveraged upside tied to S&P 500
By Wendy Van Sickle
Columbus, Ohio, March 3 – Royal Bank of Canada plans to price 0% market linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due April 5, 2021 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 of $1,000 plus 150% of any index gain, up to a maximum return of 55% to 60%. The exact cap will be set at pricing.
Investors will receive par if the index falls by up to 20% and will lose 1% for every 1% decline beyond 20%.
Wells Fargo Securities, LLC is the agent.
The notes will price on March 31 and settle on April.
The Cusip number is 78012KLZ8.
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