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RBC plans buffered enhanced return notes tied to iShares real estate
By Wendy Van Sickle
Columbus, Ohio, Feb. 11 – Royal Bank of Canada plans to price 0% buffered enhanced return notes due Feb. 26, 2021 linked to the iShares U.S. Real Estate exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.5 times any fund gain, up to a maximum return of par plus 20%.
Investors will receive par if the fund falls by up to 30.5% to 32% and will lose 1% for each 1% decline beyond the buffer. The exact buffer will be set at pricing.
RBC Capital Markets LLC is the agent.
The notes will price on Feb. 25 and settle on Feb. 28.
The Cusip number is 78013XZJ0.
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