RBC plans digital return notes with buffer tied to SPDR S&P Bank ETF

By Wendy Van Sickle

Columbus, Ohio, Sept. 23 – Royal Bank of Canada plans to price 0% digital return notes due Oct. 2, 2018 linked to the SPDR S&P 500 Bank exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.

If the final ETF level is greater than or equal to the initial level, the payout at maturity will be par plus 18.3% to 18.8%. Investors will receive par if the ETF falls by up to 10% and will have 1-to-1 exposure to losses beyond 10%.

RBC Capital Markets, LLC is the agent.

The notes will price on Sept. 27.

The Cusip number is 78012KTV9.

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