RBC to price Leveraged Index Return Notes linked to the Dow

By Toni Weeks

San Luis Obispo, Calif., Dec. 24 - Royal Bank of Canada plans to price Leveraged Index Return Notes due January 2019 linked to the Dow Jones industrial average, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10.00 plus 100% to 120% of any index gain, with the exact participation rate to be set at pricing.

Investors will receive par if the index falls by up to 20% and will be exposed to any losses beyond 20%.

The final index level will be the average of the closing index levels on five trading days shortly before maturity.

The notes are expected to price in January and settle in February.

BofA Merrill Lynch is the agent.

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