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RBC plans growth securities tied to iShares MSCI EAFE via Wells Fargo
By Toni Weeks
San Diego, July 13 - Royal Bank of Canada plans to price 0% growth securities with capped leveraged upside and fixed percentage buffered downside due Aug. 4, 2014 linked to the iShares MSCI EAFE index fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.75 times any gain in the fund, subject to a maximum return of 22% to 26%. The exact maximum return 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: 78008SDQ6) are expected to price in July and settle in August.
Wells Fargo Securities, LLC will act as agent.
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