RBC plans 14-month Accelerated Return Notes tied to energy stocks

By Wendy Van Sickle

Columbus, Ohio, Oct. 14 – Royal Bank of Canada plans to price 0% Accelerated Return Notes due December 2017 linked to a basket of five equally weighted stocks, according to a 424B2 filing with the Securities and Exchange Commission.

The underlying companies are ConocoPhillips, Devon Energy Corp., Marathon Oil Corp., Occidental Petroleum Corp. and Range Resources Corp.

The payout at maturity will be par of $10 plus triple any basket gain, up to a maximum return of 22% to 26%. The exact cap will be set at pricing.

Investors will be exposed to any losses.

BofA Merrill Lynch is the agent.

The notes will price and settle in October.

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