RBC plans autocallable access notes on iShares Russell via Wells Fargo

By Susanna Moon

Chicago, Aug. 3 - Royal Bank of Canada plans to price 0% autocallable access securities with fixed percentage buffered downside due Sept. 5, 2014 linked to the iShares Russell 2000 index fund, according to a 424B2 filing with the Securities and Exchange Commission.

Wells Fargo Securities, LLC is the agent.

The notes will be called at par plus an annualized call premium of 8% to 10% if the fund closes at or above the initial price on any of three call dates.

If the notes are not called and the shares finish at or above 90% of the initial price, the payout at maturity will be par.

Otherwise, investors will lose 1% for every 1% decline beyond the 10% buffer.

The notes will price in August and settle in September.

The Cusip number is 78008SFL5.

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