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RBC plans two-year buffered enhanced return notes linked to S&P 500
By Susanna Moon
Chicago, Sept. 13 – Royal Bank of Canada plans to price 0% buffered enhanced return notes due Oct. 2, 2018 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 plus 150% of any index gain, up to a maximum return of 14%.
Investors will receive par if the index falls by up to the 17% to 20% buffer and will lose 1.33% for every 1% decline beyond the buffer, with the exact percentage to be set at pricing.
RBC Capital Markets, LLC is the agent.
The notes will price on Sept. 27 and Sept. 30.
The Cusip number is 78012KTQ0.
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