RBC plans buffered bullish digital notes on iShares Silver Trust

By Jennifer Chiou

New York, March 4 - Royal Bank of Canada plans to price 0% buffered bullish digital notes due Sept. 28, 2012 linked to the iShares Silver Trust, according to an FWP with the Securities and Exchange Commission.

If the fund return is positive, the payout at maturity will be par plus a to-be-set 17.25% to 21.25% digital return.

Investors will receive par if the fund falls by 10% or less and will lose 1% for every 1% that it declines beyond 10%.

The notes (Cusip: 78008KS46) are expected to price on March 28 and settle on March 31.

RBC Capital Markets Corp. is the underwriter.

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