RBC plans Accelerated Return Notes due 2017 linked to Amazon

By Tali Rackner

Norfolk, Va., July 21 – Royal Bank of Canada plans to price 0% Accelerated Return Notes due August 2017 linked to the common stock of Amazon.com, Inc., according to an FWP filing with the Securities and Exchange Commission.

If the return is positive, the payout at maturity will be par of $10 plus 300% of the return, subject to a maximum return that is expected to be 18% to 22% and will be set at pricing.

Investors will lose 1% for every 1% that Apple stock declines.

BofA Merrill Lynch is the agent.

The notes are expected to price and settle in August.

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