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RBC plans to price one-year PLUS linked to S&P 500 index
By Marisa Wong
Madison, Wis., Sept. 25 - Royal Bank of Canada plans to price 0% Performance Leveraged Upside Securities due October 2013 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus triple any gain in the index, up to a maximum payment of $11.30 to $11.60 per $10 principal amount. The exact maximum payment will be set at pricing.
Investors will be fully exposed to any losses.
The notes (Cusip: 78008W347) are expected to price in September and settle in October.
RBC Capital Markets, LLC will be the agent with Morgan Stanley Smith Barney LLC handling distribution.
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