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RBC plans two-year buffered bullish digital notes tied to S&P 500
By Susanna Moon
Chicago, Jan. 6 - Royal Bank of Canada plans to price 0% buffered bullish digital notes due Jan. 29, 2014 linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.
If the index gains, the payout at maturity will be par plus a digital return of 10.5% to 14.5%. The exact percentage will be set at pricing.
Investors will receive par if the index falls by up to 20% and will lose 1% for each 1% decline beyond 20%.
RBC Capital Markets, LLC is the underwriter.
The notes will price on Jan. 27 and settle on Jan. 31.
The Cusip number is 78008TH49.
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