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RBC plans five-year buffered bullish return notes linked to S&P 500
By Susanna Moon
Chicago, Nov. 3 – Royal Bank of Canada plans to price 0% buffered bullish return notes due Nov. 26, 2019 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any index gain.
Investors will receive par if the index falls by up to the buffer amount and will lose 1% for every 1% decline beyond the buffer. The buffer will be between 16.5% and 18.5%, with the exact percentage to be set at pricing.
RBC Capital Markets, LLC is the agent.
The notes will price on Nov. 21 and settle on Nov. 26.
The Cusip number is 78010U5D5.
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