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RBC plans two-year buffered bullish booster notes on S&P 500 index
By Susanna Moon
Chicago, Dec. 5 - Royal Bank of Canada plans to price 0% buffered bullish booster notes due Dec. 31, 2013 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index gains by more than 12%, the payout at maturity will be par plus the return, up to a maximum return of 22.75% to 26.75%. The exact cap will be set at pricing.
If the index gains by up to 12%, the payout will be par plus the booster coupon of 12%.
Investors will receive par if the index falls by up to 10% and will be exposed to any decline beyond 10%.
RBC Capital Markets, LLC is the underwriter.
The notes will price on Dec. 28 and settle on Dec. 30.
The Cusip number is 78008TZR8.
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