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RBC plans leveraged buffered notes with cap linked to S&P 500 index
By Tali Rackner
Norfolk, Va., Dec. 24 – Royal Bank of Canada plans to price 0% leveraged buffered notes due 2018 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 25 and 28 months after pricing.
The payout at maturity will be par plus 1.5 times any index gain, up to a maximum settlement amount that is expected to be between $1,234 and $1,274.50 for each $1,000 principal amount. The exact cap will be set at pricing.
Investors will receive par if the index falls by 15% or less and will lose 1.1765% for every 1% decline in beyond 15%.
RBC Capital Markets, LLC is the underwriter.
The Cusip number is 78012KKF3.
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