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RBC to price buffered return notes on Dow Jones industrial average
By Toni Weeks
San Diego, Dec. 10 - Royal Bank of Canada plans to price 0% buffered return notes linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are expected to price 42 to 46 months after issue.
If the index return is zero or positive, the payout at maturity will be par plus greater of the index return and the digital return, which is expected to be 14.5% and 16.5%.
Investors will receive par if the index falls by up to 15% and will lose 1.1765% for each 1% decline beyond the 15% buffer.
The exact terms will be set at pricing.
The Cusip number is 78008SSZ0.
RBC Capital Markets, LLC is the agent.
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