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RBC intends to price buffered return notes linked to S&P 500 index
By Devika Patel
Knoxville, Tenn., July 8 – Royal Bank of Canada plans to price 0% buffered return notes due July 31, 2025 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 the gain.
If the index remains flat or falls by up to 25%, the payout will be par. Otherwise, investors will lose 1% for every 1% index decline beyond 25%.
RBC Capital Markets, LLC is the agent.
The notes (Cusip: 78013XVU9) will price on July 26 and settle on July 31.
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