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RBC plans buffered bullish enhanced return notes linked to S&P 500
By Toni Weeks
San Luis Obispo, Calif., Jan. 31 - Royal Bank of Canada plans to price 0% buffered bullish enhanced return notes due Feb. 28, 2018 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 121% to 131% of the index return. The exact participation rate will be set at pricing.
Investors will receive par if the index declines by 20% or less and will lose 1.25% for every 1% decline in the index beyond the 20% buffer.
The notes (Cusip: 78008SYC4) will price Feb. 25 and settle Feb. 28.
RBC Capital Markets, LLC is the agent.
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