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RBC to price contingent barrier enhanced notes tied to S&P 500 index
By Sarah Lizee
Olympia, Wash., Aug. 22 – Royal Bank of Canada plans to price 0% contingent barrier enhanced notes due Nov. 27, 2019 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index finishes at or above its 85% barrier level, the payout at maturity will be par plus the contingent digital return of 7.88%.
Otherwise, investors will be fully exposed to the index’s decline.
RBC Capital Markets, LLC is the agent with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents.
The notes will price on Aug. 24 and settle on Aug. 29.
The Cusip number is 78013XB80.
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