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RBC plans 18- to 21-month leveraged buffered notes tied to S&P 500
By Devika Patel
Knoxville, Tenn., Jan. 11 – Royal Bank of Canada intends to offer 0% 18- to 21-month leveraged buffered notes linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
The payout at maturity will be par plus triple any gain in the index, up to a maximum settlement amount that is expected to fall between $1,169.80 and $1,199.80 per $1,000 of notes; the exact cap and maturity date will be set at pricing.
Investors will lose 1% for each 1% index decline.
RBC Capital Markets, LLC is the agent.
The Cusip number is 78012KYQ4.
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