RBC plans two-year buffered enhanced notes with no cap on S&P 500

By Susanna Moon

Chicago, April 18 – Royal Bank of Canada plans to price 0% buffered enhanced return notes due April 30, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus double any gain in the index, up to a maximum redemption amount of 20.6% to 23.6%.

Investors will receive par if the index falls by up to 10% and will lose 1% for each 1% decline beyond 10%.

RBC Capital Markets, LLC is the agent.

The notes will price on April 25.

The Cusip number is 78013XJH2.

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