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RBC plans 14-month Accelerated Return Notes on three defense stocks
By Susanna Moon
Chicago, June 15 – Royal Bank of Canada plans to price 0% Accelerated Return Notes due August 2019 linked to a basket of three equally weighted defense sector stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The underlying companies are Raytheon Co., Lockheed Martin Corp. and Boeing Co.
The payout at maturity will be par of $10 plus 300% of any basket gain, up to a maximum return of 14% to 18%.
Investors will be exposed to any losses.
BofA Merrill Lynch is the underwriter.
The notes will price in June and settle in July.
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