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RBC plans five-year leveraged return notes with buffer tied to the Dow
By Susanna Moon
Chicago, March 28 - Royal Bank of Canada plans to price 0% Leveraged Index Return Notes due April 2019 linked to the Dow Jones industrial average, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 100% to 120% of any gain in the index, with the exact participation rate to be set at pricing.
Investors will receive par if the index falls by up to 20% and will be exposed to any losses beyond 20%.
BofA Merrill Lynch is the agent.
The notes will price in April and settle in May.
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