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RBC plans to price bullish enhanced return notes linked to S&P 500
By Wendy Van Sickle
Columbus, Ohio, May 5 – Royal Bank of Canada plans to price 0% bullish enhanced return notes due July 31, 2017 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 three times the index return, subject to a maximum return of 10% to 14%. Investors will be fully exposed to any index decline.
RBC Capital Markets, LLC is the agent.
The notes are expected to price May 24.
The Cusip number is 78012KNW3.
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