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RBC plans buffered bullish enhanced return notes linked to S&P 500
By Susanna Moon
Chicago, Oct. 10 – Royal Bank of Canada plans to price 0% buffered bullish enhanced return notes due Oct. 31, 2019 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 120% of any index gain, up to a maximum return of 55% to 60%.
Investors will receive par if the index falls by up to 20% and will lose 1% for every 1% decline beyond 20%.
RBC Capital Markets, LLC is the agent.
The notes will price on Oct. 29 and settle on Oct. 31.
The Cusip number is 78010U3Z8.
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