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RBC plans leveraged buffered notes due 2019 with cap tied to S&P 500
By Susanna Moon
Chicago, April 5 – Royal Bank of Canada plans to price leveraged buffered notes due in 24 to 27 months linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
The payout at maturity will be par plus 150% of any gain in the index, up to a maximum settlement amount of between $1,155.55 and $1,183.00 per $1,000 of notes. The exact cap will be set at pricing.
Investors will receive par if the index falls by up to 10% and will lose 1.1111% for each 1% decline beyond 10%.
RBC Capital Markets, LLC is the agent.
The Cusip number is 78012KG76.
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