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RBC to price buffered absolute return notes due 2024 tied to S&P 500
By Sarah Lizee
Olympia, Wash., Sept. 13 – Royal Bank of Canada plans to price 0% buffered absolute return notes due Sept. 30, 2024 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any gain in the index.
If the index declines by up to 20%, the payout will be par plus the absolute value of the return.
Otherwise, investors will lose 1% for every 1% decline beyond the 20% buffer.
RBC Capital Markets, LLC is the underwriter.
The notes will price on Sept. 25 and settle on Sept. 28.
The Cusip number is 78013XF86.
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