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RBC plans to price five-year Leveraged Index Return Notes tied to Dow
By Tali Rackner
Norfolk, Va., March 29 – Royal Bank of Canada plans to price 0% Leveraged Index Return Notes due April 2021 linked to the Dow Jones industrial average, according to an FWP filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus 105% to 125% of the index return. The exact upside participation rate will be set at pricing.
Investors will receive par if the index falls by up to 20% and will lose 1% for every 1% that it declines beyond 20%.
BofA Merrill Lynch is the underwriter.
The notes will price in April and settle in May.
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