RBC plans to price buffered absolute return notes linked to S&P 500

By Sarah Lizee

Olympia, Wash., Oct. 11 – Royal Bank of Canada plans to price 0% buffered absolute return notes due April 17, 2026 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 index return.

If the index return is zero or negative but greater than or equal to negative 20%, the payout will be par plus the absolute value of the index return.

If the index return is less than negative 20%, investors will lose 1% for every 1% that the index declines beyond 20%.

RBC Capital Markets, LLC is the agent.

The notes (Cusip: 78015KFP4) will price on Oct. 14.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.