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RBC plans two-year barrier absolute return notes linked to S&P 500
By Susanna Moon
Chicago, Sept. 13 – Royal Bank of Canada plans to price 0% barrier absolute return notes due Oct. 2, 2018 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index finishes above the initial level, the payout at maturity will be par plus the gain.
If the index falls by up to the 71% to 74% barrier level, the payout will be par plus the absolute value of the index return.
Otherwise, investors will be fully exposed to any losses.
RBC Capital Markets, LLC is the agent.
The notes will price on Sept. 27 and Sept. 30.
The Cusip number is 78012KTR8.
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