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RBC plans Accelerated Return Notes tied to S&P 100 via Merrill Lynch
By Toni Weeks
San Diego, June 28 - Royal Bank of Canada plans to price 0% Accelerated Return Notes due September 2013 linked to the S&P 100 index, according to an FWP filing with the Securities and Exchange Commission.
Bank of America Merrill Lynch is the agent.
The payout at maturity is par of $10.00 plus triple any gain in the index, up to a maximum payment of $11.20 to $11.60 per note. The exact maximum payment will be determined at pricing. Investors will be fully exposed to any index decline.
The notes are expected to price in July and settle in August.
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