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RBC plans buffered enhanced return notes on iShares MSCI EM fund
By Toni Weeks
San Luis Obispo, Calif., March 1 - Royal Bank of Canada plans to price 0% buffered enhanced return notes linked to the iShares MSCI Emerging Markets index fund, according to a 424B2 with the Securities and Exchange Commission.
The notes will mature about 15 to 17 months after pricing.
The payout at maturity will be par plus 1.5 times any gain in the fund, up to a maximum payment of $1,137.25 to $1,183.75 per $1,000 principal amount. The exact cap will be set at pricing.
Investors will receive par if the fund falls by up to 10% and will lose 1.1111% for each 1% decline beyond 10%.
The Cusip is 78008SZA7.
RBC Capital Markets, LLC is the agent.
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