RBC today launched the RBC IA Clarington U.S. Dividend Deposit Notes Series 1, 2, and 3.

The notes are principal protected and linked to the Clarington U.S. Dividend Fund, managed by TCW Investment Management Company, which invests in U.S. companies that have a record of paying dividends.

The Series 1 notes provide monthly coupons equivalent to an annualized yield of 5.04%. Series 2 (Return of Capital Series) notes provide a similar indicative yield, but the distributions are treated as return of capital. The Series 3 notes are denominated in U.S. dollars and provide distributions that are treated as return of capital.

The notes are available to self-directed investors until July 27, and have a maturity date of Feb. 2, 2015.