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RBC plans to price five-year barrier return notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Feb. 10 – Royal Bank of Canada plans to price 0% barrier return notes due Feb. 23, 2022 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus the index return. If the index return is between zero and negative 50%, inclusive, the payout will be par. If the index return is less than negative 50%, investors will lose 1% for every 1% that the index declines from its initial level.
RBC Capital Markets LLC is the underwriter.
The notes will price Feb. 17.
The Cusip number is 78012KZY6.
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