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RBC to price leveraged buffered index-linked notes tied to S&P 500
By Toni Weeks
San Luis Obispo, Calif., May 31 - Royal Bank of Canada plans to price 0% leveraged buffered index-linked notes tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are expected to mature 24 to 27 months after pricing.
If the index return is positive, the payout at maturity will be par plus 1.5 times the index gain, subject to a maximum settlement of $1,136.50 to $1,181.50 per $1,000 note.
Investors will receive par if the index falls by up to 10% and will share in losses at a rate of 1.1111% per 1% drop beyond the 10% buffer.
RBC Capital Markets, LLC is the underwriter.
The Cusip number is 78008SX76.
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