RBC plans five-year Leveraged Index Return Notes tied to the Dow

By Jennifer Chiou

New York, Feb. 26 – Royal Bank of Canada plans to price 0% Leveraged Index Return Notes due March 2020 linked to the Dow Jones industrial average, according to an FWP with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus 105% to 125% of any index gain. The exact upside participation rate will be set at pricing.

Investors will receive par if the index falls by up to 15% and will lose 1% for every 1% that it declines beyond 15%.

The notes will price in March and settle in April.

BofA Merrill Lynch is the underwriter.

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