RBC to price five-year range accrual notes linked to six-month Libor

By Angela McDaniels

Tacoma, Wash., March 17 - Royal Bank of Canada plans to price floating-rate redeemable range accrual notes due April 2, 2019 linked to six-month Libor, according to an FWP filing with the Securities and Exchange Commission.

The interest rate will be 2.5% per year multiplied by the proportion of days on which six-month Libor is less than or equal to 2.25%. Interest will be payable semiannually.

The payout at maturity will be par.

The notes will be callable at par on Oct. 2, 2014.

RBC Capital Markets, LLC is the agent.

The notes will price March 28 and settle April 2.

The Cusip number is 78010UEB9.

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