RBC plans trigger jump securities tied to iShares U.S. Real Estate ETF

By Marisa Wong

Madison, Wis., Dec. 10 - Royal Bank of Canada plans to price 0% trigger jump securities due December 2015 linked to the iShares U.S. Real Estate exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.

If the fund finishes above its initial level, the payout at maturity will be par of $10 plus the upside payment of $2.65 per note.

Investors will receive par if the shares fall by up to 10% and will be fully exposed to any losses if the fund finishes below the 90% trigger.

RBC Capital Markets LLC is the agent, and Morgan Stanley Smith Barney LLC will handle distribution.

The notes are expected to price on Dec. 20.

The Cusip number is 78010Y257.

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