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RBC plans buffered bullish enhanced return notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., April 29 – Royal Bank of Canada plans to price 0% buffered bullish enhanced return notes due Oct. 29, 2021 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 101% to 110% of the index return. The exact leverage factor will be set at pricing. Investors will receive par if the index declines by 20% or less and will lose 1% for every 1% that it declines beyond 20%.
RBC Capital Markets, LLC is the agent.
The notes are expected to price May 24.
The Cusip number is 78012KNX1.
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