RBC plans growth securities tied to iShares Russell via Wells Fargo

By Toni Weeks

San Diego, Aug. 3 - Royal Bank of Canada plans to price 0% growth securities with leveraged capped upside and fixed percentage buffered downside due Dec. 5, 2013 linked to the iShares Russell 2000 index fund, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 1.5 times any gain in the fund, subject to a maximum return of 12% to 16% that will be set at pricing.

Investors will receive par if the fund declines by up to 10% and will be exposed to losses beyond the 10% buffer.

The notes (Cusip: 78008SFP6) are expected to price in August and settle in September.

Wells Fargo Securities, LLC is the agent.

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