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Published on 1/11/2017 in the Prospect News Structured Products Daily.

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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