RBC to price buffered enhanced return notes due 2024 tied to S&P 500

By Sarah Lizee

Olympia, Wash., July 19 – Royal Bank of Canada plans to price 0% buffered enhanced return notes due July 25, 2024 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 110% of any index gain.

Investors will receive par if the index falls by up to 20% and will lose 1% for each 1% decline beyond the buffer.

RBC Capital Markets LLC is the agent.

The notes will price on July 20 and settle on July 25.

The Cusip number is 78013XPZ5.

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