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RBC plans buffered bullish enhanced notes on SPDR S&P MidCap 400 ETF
By Marisa Wong
Madison, Wis., July 22 - Royal Bank of Canada plans to price 0% buffered bullish enhanced return notes due Feb. 14, 2013 linked to the SPDR S&P MidCap 400 exchange-traded fund trust, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.5 times any fund gain, up to a maximum return of 10.75% to 14.75%. The exact cap will be set at pricing.
Investors will receive par if the fund share price falls by up to 15% and will be exposed to any decline beyond 15%.
RBC Capital Markets, LLC is the underwriter.
The notes will price on Aug. 11 and settle Aug. 16.
The Cusip is 78008TLM4.
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