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RBC plans two-year buffer enhanced return notes linked to S&P 500
By Susanna Moon
Chicago, Aug. 11 – Royal Bank of Canada plans to price 0% buffer enhanced return notes due Aug. 30, 2018 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 1.5 times any index gain, up to a maximum return of 14%.
Investors will receive par if the index falls by up to the buffer, which will be 16.9% to 19.9%, and will be exposed to any losses beyond the buffer.
The exact deal terms will be set at pricing.
RBC Capital Markets, LLC is the agent.
The notes will price on Aug. 26 and settle on Aug. 31.
The Cusip number is 78012KSL2.
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