RBC plans five-year Leveraged Index Return Notes tied to S&P 500

By Jennifer Chiou

New York, July 24 – Royal Bank of Canada plans to price capped Leveraged Index Return Notes due July 2019 linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus 100% to 120% of any index gain, with the exact participation rate to be set at pricing.

Investors will receive par if the index falls by up to 15% and will be exposed to any losses beyond 15%.

The notes will price in July and settle in August.

BofA Merrill Lynch is the agent.

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