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RBC to price Capped Leveraged Index Return Notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Aug. 9 - Royal Bank of Canada plans to price 0% Capped Leveraged Index Return Notes due August 2013 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus double any increase in the index, subject to a maximum return of 16% to 20% that will be set at pricing. Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
The notes are expected to price and settle in August.
Bank of America Merrill Lynch is the agent.
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