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RBC to price buffered bullish enhanced return notes linked to S&P 500
By Wendy Van Sickle
Columbus, Ohio, March 2 – Royal Bank of Canada plans to price 0% buffered bullish enhanced return notes due March 31, 2021 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 103% to 113% of any index gain, with the exact leverage factor to be set at pricing.
Investors will receive par if the index falls by up to 20% and will have 1-to-1 exposure to losses beyond 20%.
RBC Capital Markets, LLC is the agent.
The notes will price on March 28 and settle on March 31.
The Cusip number is 78012KLW5.
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