By Angela McDaniels
Tacoma, Wash., Aug. 28 - Royal Bank of Canada priced $1.34 million of zero-coupon principal-protected notes due Sept. 28, 2012 linked to the Baltic Dry index, according to a 424B5 filing with the Securities and Exchange Commission.
The index is designed to measure changes in the cost of transporting dry bulk material such as grain, coal, iron ore and industrial metals by sea.
If the final index level is greater than the initial index level, the payout at maturity will be par plus 125% of the gain. Otherwise, the payout will be par.
RBC Capital Markets Corp. is the underwriter.
| Issuer: | Royal Bank of Canada
|
| Issue: | Principal-protected notes
|
| Underlying index: | Baltic Dry
|
| Amount: | $1.34 million
|
| Maturity: | Sept. 28, 2012
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 125% of any index gain; floor of par
|
| Initial index level: | 7,115
|
| Pricing date: | Aug. 26
|
| Settlement date: | Aug. 29
|
| Underwriter: | RBC Capital Markets Corp.
|
| Fees: | 3.625%
|
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