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RBC plans to price barrier absolute return notes linked to S&P 500
By Wendy Van Sickle
Columbus, Ohio, May 11 – Royal Bank of Canada plans to price 0% barrier absolute return notes due April 2, 2019 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 100% to 108% of the index return. If the index falls by up to the barrier, 70% of the initial level, the payout will be par plus the absolute value of the index return. Othersiwe, investors will have one-to-one exposure to the index’s decline from its initial level.
RBC Capital Markets LLC is the underwriter.
The notes will price May 26.
The Cusip number is 78012KP50.
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