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RBC plans to price leveraged market-linked notes on ETF basket
By Sarah Lizee
Olympia, Wash., April 3 – Royal Bank of Canada plans to price 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due April 17, 2023 linked to a basket consisting of the SPDR Dow Jones industrial average ETF trust (50% weight), SPDR S&P MidCap 400 ETF trust (30% weight) and iShares Russell 2000 ETF (20% weight), according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 150% of any basket gain, capped at par plus 30% to 40%.
Investors will receive par if the basket falls by up to 10% and will lose 1% for every 1% decline beyond 10%.
Wells Fargo Securities, LLC is the agent.
The notes will price on April 9.
The Cusip number is 78015KJV7.
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