RBC plans buffered bullish digital notes tied to iShares MSCI Brazil

By Marisa Wong

Madison, Wis., May 2 - Royal Bank of Canada plans to price 0% buffered bullish digital notes due May 16, 2013 linked to the iShares MSCI Brazil index fund, according to an FWP filing with the Securities and Exchange Commission.

If the fund return is positive, the payout at maturity will be par plus a digital return of 14.5% to 16.5% that will be set at pricing.

Investors will receive par if the fund falls by 20% or less and will lose 1% for every 1% decline beyond 20%.

The notes (Cusip: 78008TAY0) are expected to price on May 13 and settle on May 18.

RBC Capital Markets, LLC is the underwriter.

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