RBC plans Accelerated Return Notes tied to MSCI EAFE index via Merrill

By Toni Weeks

San Diego, March 25 - Royal Bank of Canada plans to price 0% Accelerated Return Notes due June 2012 linked to the MSCI EAFE index, according to an FWP filing with the Securities and Exchange Commission.

Merrill Lynch, Pierce, Fenner & Smith Inc. is the agent.

The payout at maturity is par of $10.00 plus triple any gain in the index, up to a maximum payment of $11.40 to $11.80 per note. The exact maximum payment will be determined at pricing. Investors will be fully exposed to any index decline.

The notes are expected to price in April and settle in May.

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