RBC to price Accelerated Return Notes tied to S&P 500 via Merrill

By Jennifer Chiou

New York, Dec. 21 - Royal Bank of Canada plans to price 14-month 0% Accelerated Return Notes linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.

The underwriter is Merrill Lynch, Pierce, Fenner and Smith Inc.

The payout at maturity will be par of $10 plus triple any index gain, subject to a maximum return of 12% to 16% that will be set at pricing. Investors will be fully exposed to any index decline.

The notes will price in January and settle in February, and the maturity date will fall in March 2012.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.