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RBC to price 20- to 23-month leveraged notes linked to S&P 500
By Marisa Wong
Morgantown, W.Va., July 18 – Royal Bank of Canada plans to price 0% leveraged notes linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are expected to mature between 20 and 23 months after pricing.
If the index return is positive, the payout at maturity will be par plus 300% of the index return, subject to a maximum settlement amount of $1,213 and $1,249 per $1,000 principal amount. If the index return is negative, investors will have full exposure to the decline.
RBC Capital Markets, LLC is the underwriter.
The Cusip number is 78012KQX8.
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