RBC plans buffered bullish enhanced return notes on SPDR DJ ETF

By Jennifer Chiou

New York, April 4 - Royal Bank of Canada plans to price 0% buffered bullish enhanced return notes due April 30, 2018 linked to the SPDR Dow Jones Industrial Average ETF trust, according to an FWP with the Securities and Exchange Commission.

If the trust return is positive, the payout at maturity will be par plus 117% to 127% of the trust return. The exact participation rate will be set at pricing.

Investors will receive par if the trust declines by 20% or less and will lose 1% for every 1% decline in the trust beyond 20%.

The notes (Cusip: 78008SK21) are expected to price on April 25 and settle on April 30.

RBC Capital Markets, LLC is the agent.

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