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RBC plans buffered bullish enhanced return notes on S&P 500 index
By Marisa Wong
Madison, Wis., March 5 - Royal Bank of Canada plans to price 0% buffered bullish enhanced return notes due March 29, 2019 linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.
The payout at maturity will be par plus 115% of any index gain, up to a maximum return of 55% to 65%. The exact cap will be set at pricing.
Investors will receive par if the index falls by up to 20% and will lose 1% for every 1% decline beyond 20%.
RBC Capital Markets, LLC is the agent.
The notes will price on March 27 and settle on March 31.
The Cusip number is 78010USL2.
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