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RBC plans buffered enhanced return notes linked to S&P 500 index
New York, July 14 – Royal Bank of Canada plans to price 0% buffered enhanced return notes due July 31, 2019 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than the initial index level, the payout at maturity will be par of $1,000 plus 150% of the index return subject to a cap of par plus 15%.
Investors will receive par if the index declines by up to the buffer percentage and will lose 1% for every 1% decline beyond the buffer. The buffer will be between 12.75% and 14.5% and will be set at pricing.
RBC Capital Markets, LLC is the agent.
The notes will price on July 26 and settle on July 31.
The Cusip number is 78012K3B1.
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