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RBC to price Leveraged Index Return Notes on Consumer Staples index
By Marisa Wong
Madison, Wis., April 8 - Royal Bank of Canada plans to price Leveraged Index Return Notes due April 2019 linked to the Consumer Staples Select Sector index, according to an FWP filing with the Securities and Exchange Commission.
BofA Merrill Lynch is the agent.
The payout at maturity will be par of $10.00 plus 135% to 155% of any index gain, with the exact participation rate to be set at pricing.
Investors will be fully exposed to any losses.
The final index level will be the average of the closing index levels on five trading days shortly before maturity.
The notes are expected to price and settle in April.
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