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RBC plans buffered participation securities linked to the Dow
By Marisa Wong
Los Angeles, July 11 – Royal Bank of Canada plans to price 0% buffered participation securities due Oct. 5, 2020 linked to the Dow Jones industrial average, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any index gain, capped at 11%.
If the index finishes flat or falls by up to 5%, the payout will be par.
Otherwise, investors will lose 1% for every 1% that the index declines beyond 5%.
RBC Capital Markets, LLC is the agent with Morgan Stanley Wealth Management handling distribution.
The notes will price July 31.
The Cusip number is 78014J223.
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