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RBC plans barrier absolute return notes due 2022 linked to the S&P 500
By Susanna Moon
Chicago, April 5 – Royal Bank of Canada plans to price 0% barrier absolute return notes due July 29, 2022 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index finishes above the initial level, the payout at maturity will be par plus 100% to 108% of the gain.
If the index falls by up to the 70% barrier level, the payout will be par plus the absolute value of the index return.
Otherwise, investors will lose 1% for each 1% decline.
RBC Capital Markets, LLC is the agent.
The notes will price on April 26 and settle on April 28.
The Cusip number is 78012KH67.
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