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RBC plans buffered enhanced return notes with cap linked to S&P 500
By Toni Weeks
San Diego, Dec. 17 - 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 about 21 months after pricing.
The payout at maturity will be par plus 1.5 times any gain in the index, up to a maximum payment of $1,189.90 to $1,207.45 per $1,000 principal amount. The exact cap will be set at pricing.
Investors will receive par if the index falls by up to 12.5% and will lose 1.1429% for each 1% decline beyond 12.5%.
RBC Capital Markets, LLC is the agent.
The Cusip number is 78008STE6.
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