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RBC plans leveraged buffered notes linked to S&P 500 index
By Susanna Moon
Chicago, Feb. 21 - Royal Bank of Canada plans to price 0% leveraged buffered notes due 2015 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are expected to mature between 17 and 19 months after pricing.
The payout at maturity will be par plus 1.2 times any index gain, up to a maximum settlement amount of $1,142.20 to $1,166.20 per $1,000 principal amount.
Investors will receive par if the index falls by up to 10% and will lose 1.1111% for each 1% decline beyond 10%.
The exact deal terms, including maturity and payment cap, will be set at pricing.
RBC Capital Markets, LLC is the underwriter.
The Cusip number is 78010URG4.
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