RBC plans 13-month bullish digital notes tied to iShares Silver Trust

By Toni Weeks

San Diego, April 7 - Royal Bank of Canada plans to price 0% bullish digital notes due May 31, 2012 linked to iShares Silver Trust shares, according to an FWP filing with the Securities and Exchange Commission.

If the final share price is greater than the initial price, the payout at maturity will be par plus a digital coupon of 22% to 26%. The exact coupon will be set at pricing.

Investors will be fully exposed to losses.

The notes are expected to price April 26 and settle April 29.

RBC Capital Markets, LLC is the agent.

The Cusip for the notes is 78008K5P4.

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