RBC plans 0% bearish buffered notes linked to index basket

By Jennifer Chiou

New York, Jan. 23 - Royal Bank of Canada plans to price an issue of 0% bearish buffered equity investment notes due Jan. 26, 2009 linked to an index basket, according to a SUPPL filing with the Securities and Exchange Commission.

The basket includes equal weights of the S&P 500, Dow Jones Industrial Average, Russell 2000 and Nasdaq 100 indexes.

The notes will price on Jan. 26 and will settle on Jan. 31.

The payout at maturity will be par plus the absolute value of any negative return on the index basket. Investors will receive at least par for any basket gains up to the 30% buffer amount. Investors will share in losses beyond the buffer amount.

RBC Capital Markets Corp. will be the agent.

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