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RBC plans bullish barrier enhanced notes due 2018 linked to S&P 500
By Tali Rackner
Norfolk, Va., Nov. 4 – Royal Bank of Canada plans to price 0% bullish barrier enhanced return notes due Nov. 30, 2018 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 150% of any index gain, subject to a maximum return of 30% to 36%. The exact cap will be set at pricing.
If the index falls by up to 25%, the payout will be par.
If the index falls by more than 25%, investors will be full exposed to the index decline.
RBC Capital Markets, LLC is the agent.
The notes will price on Nov. 24 and settle on Nov. 30.
The Cusip number is 78012KJG3.
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