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RBC plans buffered autocallable optimization notes linked to S&P 500
By Marisa Wong
Madison, Wis., June 14 - Royal Bank of Canada plans to price buffered autocallable optimization securities due July 1, 2013 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index closes at or above the initial level on any quarterly observation date, the notes will be called at par plus an annualized call return of 8% to 9.25%.
If the notes are not called and the index falls by up to 10%, the payout at maturity will be par.
Otherwise, investors will lose 1% for each 1% decline beyond the 10% buffer.
UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.
The notes (Cusip: 78008D554) will price on June 21 and settle on June 29.
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