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RBC plans 0% Accelerated Return Notes tied to Nasdaq 100 via Merrill
By Toni Weeks
San Diego, Jan. 31 - Royal Bank of Canada plans to price 14-month 0% Accelerated Return Notes due April 2012 linked to the Nasdaq 100 Index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus triple any index gain, subject to a maximum return of 11% to 15%. The exact cap will be set at pricing. Investors will be fully exposed to any decrease in the level of the Nasdaq 100.
Merrill Lynch & Co. will act as agent.
The notes are expected to price in February and settle in March.
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