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RBC to price buffered bullish digital notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Jan. 8 - Royal Bank of Canada plans to price 0% buffered bullish digital notes due Jan. 31, 2011 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 level, then the payout at maturity will be par plus 18.5%. Investors will receive par if the index declines by 20% or less and will lose 1% for every 1% that the index declines beyond 20%.
The notes are expected to price on Jan. 27 and settle on Jan. 30.
RBC Capital Markets Corp. is the underwriter.
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