RBC plans 3.5-year growth securities tied to S&P 500 via Wells Fargo

By Susanna Moon

Chicago, July 13 - Royal Bank of Canada plans to price 0% growth securities - leveraged upside participation to a cap and fixed percentage buffered downside due Feb. 2, 2016 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

Wells Fargo Securities, LLC is the agent.

The payout at maturity will be par plus 1.5 times any gain in the index, up to a maximum return of $1,380 to $1,430 per $1,000 principal amount. The exact cap will be set at pricing.

Investors will receive par if the index falls by up to 10% and will be exposed to any decline beyond 10%.

The notes will price in July and settle in August.

The Cusip is 78008SDS2.

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