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RBC plans Accelerated Return Notes tied to S&P MidCap 400 via Merrill
By Marisa Wong
Madison, Wis., May 24 - Royal Bank of Canada plans to price 0% Accelerated Return Notes due August 2013 linked to the S&P MidCap 400 index, according to an FWP filing with the Securities and Exchange Commission.
Bank of America Merrill Lynch will be the agent.
The payout at maturity will be par of $10.00 plus triple any gain in the index, with the return capped at 13% to 17%.
Investors will be fully exposed to losses.
The notes are expected to price in June and settle in July.
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