RBC to price Accelerated Return Notes tied to MSCI EAFE via Merrill

By Jennifer Chiou

New York, June 25 - Royal Bank of Canada plans to price 14-month 0% Accelerated Return Notes linked to the MSCI EAFE index, according to an FWP filing with the Securities and Exchange Commission.

The underwriters are Merrill Lynch, Pierce, Fenner and Smith Inc. and First Republic Securities Co., LLC.

The payout at maturity will be par of $10 plus triple any index gain, subject to a maximum return of 14% to 18% that will be set at pricing. Investors will be fully exposed to any index decline.

The notes will price in July and settle in August, and the maturity date will fall in September 2011.

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