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RBC plans buffered enhanced return notes with 85% trigger on S&P 500
By Susanna Moon
Chicago, Jan. 15 - Royal Bank of Canada plans to price 0% buffered enhanced return notes linked to the S&P 500 index, according to a 424B2 with the Securities and Exchange Commission.
The notes will mature 22 to 24 months after pricing.
The payout at maturity will be par plus 1.2 times any gain in the index, up to a maximum payment of $1,204 to $1,270 per $1,000 principal amount. The exact cap will be set at pricing.
Investors will receive par if the index falls by up to 15% and will lose 1.1765% for each 1% decline beyond 15%.
RBC Capital Markets, LLC is the agent.
The exact deal terms will be set at pricing.
The Cusip number is 78008SVK9.
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