RBC plans to price buffered enhanced return notes tied to the S&P 500

By Devika Patel

Knoxville, Tenn., March 13 – Royal Bank of Canada plans to price 0% buffered enhanced return notes due Jan April 2, 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 maximum settlement amount of $1,150 per $1,000 of notes.

Investors will receive par if the index declines by up to the buffer percentage of 15.5% to 17.5% and will lose 1% for every 1% decline beyond the buffer amount, which will be set at pricing.

RBC Capital Markets, LLC is the underwriter.

The notes (Cusip: 78012KE29) will price on March 28 and settle on March 31.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.