By Angela McDaniels
Tacoma, Wash., July 29 - Royal Bank of Canada priced $12.83 million of 0% autocallable optimization securities with contingent protection due Aug. 2, 2011 linked to the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the exchange-traded fund's shares close at or above the initial share price of any of 12 monthly observation dates, the notes will be automatically called and investors will receive par of $10 plus an annualized call premium of 14.04%.
If the notes are not called and the final share price is greater than or equal to 75% of the initial price, the payout at maturity will be par. If the final share price is less than 75% of the initial price, the payout will be par plus the fund return.
UBS Financial Services Inc. and RBC Capital Markets Corp. are the underwriters.
| Issuer: | Royal Bank of Canada
|
| Issue: | Autocallable optimization securities with contingent protection
|
| Underlying ETF: | Energy Select Sector SPDR fund
|
| Amount: | $12,826,750
|
| Maturity: | Aug. 2, 2011
|
| Coupon: | 0%
|
| Price: | Par of $10.00
|
| Payout at maturity: | Par if final share price is greater than or equal to trigger price; otherwise, par plus share price return
|
| Call: | Automatically at par plus annualized call premium of 14.04% if ETF's shares close at or above the initial price on any of 12 monthly observation dates
|
| Initial share price: | $53.99
|
| Trigger price: | $40.49, 75% of initial price
|
| Pricing date: | July 27
|
| Settlement date: | July 30
|
| Underwriters: | UBS Financial Services Inc. and RBC Capital Markets Corp.
|
| Fees: | 1.25%
|
| Cusip: | 78009C852
|
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