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RBC plans four-year market-linked securities tied to fund basket
By Susanna Moon
Chicago, Aug. 14 – Royal Bank of Canada plans to price 0% market-linked securities with leveraged upside participation to a cap and fixed buffered downside due Sept. 4, 2018 linked to a basket of exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the SPDR S&P 500 ETF trust with a 50% weight, the iShares Russell 2000 ETF with a 20% weight, the iShares MSCI EAFE ETF with a 15% weight and the iShares MSCI Emerging Markets ETF with a 15% weight.
The payout at maturity will be par plus 140% of any gain in the basket, up to a maximum return of $1,400 to $1,450 per $1,000 principal amount.
Investors will receive par if the basket falls by up to 10% and will lose 1% for each 1% beyond 10%.
Wells Fargo Securities LLC is the agent.
The notes will price on Aug. 29 and settle on Sept. 4.
The Cusip number is 78010UV38.
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