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RBC plans Leveraged Index Return Notes tied to S&P 500, Euro Stoxx 50
By Marisa Wong
Madison, Wis., April 15 - Royal Bank of Canada plans to price Leveraged Index Return Notes due April 2018 linked to equal weights of the S&P 500 index and the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.
BofA Merrill Lynch is the agent.
The payout at maturity will be par of $10.00 plus 115% to 135% of any basket gain, with the exact participation rate to be set at pricing.
If the basket falls by up to 10%, the payout will be par. Investors will lose 1% for every 1% basket decline beyond 10%.
The notes are expected to price in April and settle in May.
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