RBC plans 18-month buffered bullish return notes on iShares MSCI EM

By Susanna Moon

Chicago, Oct. 21 - Royal Bank of Canada plans to price 0% buffered bullish enhanced return notes due May 15, 2013 linked to the iShares MSCI Emerging Markets index fund, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par plus double any fund gain, up to a maximum return of 20.6% to 24.6%. The exact cap will be set at pricing.

Investors will receive par if the shares fall by up to 15% and will be exposed to any decline beyond 15%.

RBC Capital Markets, LLC is the underwriter.

The notes will price on Nov. 10 and settle on Nov. 16.

The Cusip number is 78008TA20

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