RBC plans one-year bullish barrier enhanced return notes tied to Apple

By Susanna Moon

Chicago, April 26 - Royal Bank of Canada plans to price 0% bullish barrier enhanced return notes due May 20, 2015 linked to Apple Inc. shares, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par plus double any gain in Apple stock, up to a maximum return of 47.5% to 57.5%. The exact cap will be set at pricing.

Investors will receive par if the shares fall by up to 20% and will be fully exposed to any losses if the stock falls below the 80% barrier level.

RBC Capital Markets, LLC is the agent.

The notes will price on May 15 and settle on May 20.

The Cusip number is 78008ST48.

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