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RBC to price Accelerated Return Notes linked to Euro Stoxx 50 index
By Jennifer Chiou
New York, Sept. 26 - Royal Bank of Canada plans to price 0% Accelerated Return Notes due January 2015 linked to the Euro Stoxx 50 index, according to an FWP with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus triple the index return, subject to a maximum return of 15% to 19% that will be set at pricing. If the index return is negative, investors will be fully exposed to the decline.
The notes are expected to price and settle in October.
BofA Merrill Lynch is the agent.
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