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RBC to price leveraged buffered notes linked to S&P 500 index
By Devika Patel
Knoxville, Tenn., April 10 – Royal Bank of Canada plans to price 24- to 27-month leveraged buffered notes due 2019 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 1.4 times any gain in the index, up to a maximum settlement amount of between $1,202.58 and $1,238.14 per $1,000 of notes.
Investors will receive par if the index falls by 12.5% or less and will lose 1.1429% for every 1% decline beyond 12.5%.
The exact cap and maturity will be set at pricing.
RBC Capital Markets, LLC is the agent.
The Cusip number is 78012KJ57.
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