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RBC to price 0% notes linked to iShares Dow Jones U.S. Real Estate fund
By Jennifer Chiou
New York, Sept. 14 - Royal Bank of Canada plans to price an issue of 0% enhanced return leveraged bear notes due March 31, 2008 linked to the iShares Dow Jones U.S. Real Estate index fund, according to a SUPPL filing with the Securities and Exchange Commission.
The notes will be priced on Sept. 26 and will settle on Sept. 29.
If the final index level is less than the initial level, at maturity investors will receive the greater of triple the absolute value of the index decline or a 40% gain. If the final basket level is greater than the initial level, investors will shares in losses based on the gain with a floor of 50%.
RBC Capital Markets Corp. will be the underwriter.
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