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RBC plans two-year absolute return barrier notes tied to S&P 500
By Susanna Moon
Chicago, July 16 – Royal Bank of Canada plans to price 0% absolute return barrier notes due July 30, 2020 linked to S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the underlying asset never closes below its 72.6% to 75.6% threshold level, the payout at maturity will be par plus the absolute value of the return.
Otherwise, investors will lose 1% for every 1% decline.
RBC Capital Markets, LLC is the agent.
The notes will price on July 26.
The Cusip number is 78013XPX0.
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