RBC plans to price equity index-linked notes tied to S&P MidCap 400

By Toni Weeks

San Diego, May 16 - Royal Bank of Canada plans to price 0% equity index-linked notes tied to the S&P MidCap 400 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are expected to mature 24 to 26 months after issue.

If the final index level is greater than or equal to the initial level, the payout at maturity will be par plus 200% of the index gain, subject to a maximum payment of $1,305 to $1,345 per $1,000 principal amount. The exact maximum payment will be determined at pricing.

Investors will be exposed to any losses.

The notes (Cusip: 78008T7J7) are expected to price in May.

RBC Capital Markets, LLC is the agent.

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