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RBC plans to price six-year barrier booster notes linked to S&P 500
By Marisa Wong
Morgantown, W.Va., March 27 – Royal Bank of Canada plans to price 0% barrier booster notes due March 31, 2023 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index gains by more than 42.5% to 47.5%, the payout at maturity will be par plus the return
If the index gains by up to the booster percentage, the payout will be par plus the booster coupon of 42.5% to 47.5%.
Investors will receive par if the index falls by up to 30% and will be fully exposed to any losses if the index finishes below the 70% barrier level.
The exact deal terms will be set at pricing.
RBC Capital Markets, LLC is the underwriter.
The notes will price on March 28.
The Cusip number is 78012KC96.
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