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RBC plans two-year buffered bullish booster notes linked to S&P 500
By Toni Weeks
San Diego, Dec. 6 - Royal Bank of Canada plans to price 0% buffered bullish booster notes due Dec. 31, 2013 linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.
If the index gains, the payout at maturity will be par plus the greater of the index return and the 12% booster coupon, up to a maximum return of 29% to 33%. The exact cap will be set at pricing.
Investors will receive par if the index falls by up to 10% and will be exposed to any decline beyond 10%.
The notes (Cusip: 78008TZZ0) will price Dec. 28 and settle Dec. 30.
RBC Capital Markets, LLC is the underwriter.
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