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RBC plans four-year bullish barrier booster notes linked to SPDR Dow
By Susanna Moon
Chicago, Feb. 4 - Royal Bank of Canada plans to price 0% bullish barrier booster notes due March 2, 2017 linked to the SPDR Dow Jones Industrial Average exchange-traded fund trust, according to an FWP filing with the Securities and Exchange Commission.
If the fund gains by more than 25%, the payout at maturity will be par plus 117% to 137% of the gain plus a booster coupon of 25%. The exact deal terms will be set at pricing.
If the shares gain by up to 25%, the payout will be par plus the booster coupon of 25%.
Investors will receive par if the fund falls by up to 25% and will be exposed to any losses if the shares fall below the 75% barrier level.
RBC Capital Markets, LLC is the underwriter.
The notes will price on Feb. 25 and settle on Feb. 28.
The Cusip number is 78008SYD2.
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