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RBC plans 24- to 27-month leveraged buffered notes linked to S&P 500
By Wendy Van Sickle
Columbus, Ohio, Oct. 14 – Royal Bank of Canada plans to price 24- to 27-month leveraged buffered notes linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
The payout at maturity will be par plus 2 times any gain in the index, up to a maximum settlement amount of $1,153.80 to $1,180.80 per $1,000 of notes. The exact cap and maturity will be set at pricing.
Investors will receive par if the index falls by 10% or less and will lose 1.1111% for every 1% decline beyond 10%.
RBC Capital Markets, LLC is the agent.
The Cusip number is 78012KUK1.
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