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RBC to price buffer absolute return notes tied to S&P, Dow
By Sarah Lizee
Olympia, Wash., Feb. 11 – Royal Bank of Canada plans to price 0% buffer absolute return notes due Feb. 20, 2026 linked to the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above its initial level, the payout will be par plus 100% to 110% of the return of the lesser performing asset.
If either index finishes flat or falls by up to 20%, the payout will be par plus the absolute value of the return of that index.
Otherwise, investors will lose 1% for every 1% decline of the lesser performing index beyond the buffer.
RBC Capital Markets, LLC is the underwriter.
The notes will price on Feb. 14.
The Cusip number is 78015KPF5.
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