By Jennifer Chiou
New York, Dec. 24 - Royal Bank of Canada priced $2.82 million of zero-coupon principal-protected notes due June 30, 2015 linked to the SGI Smart Market Neutral Commodity Index (USD - Excess Return), according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 125% of any increase in the index. If the index declines, the payout will be par.
The index tracks the performance of a systematic long/short strategy, where the long position is made up of semi-dynamic, excess return commodity indexes and the short position is made up of standard excess return commodity indexes.
RBC Capital Markets Corp. is the underwriter.
| Issuer: | Royal Bank of Canada
|
| Issue: | Principal-protected notes
|
| Underlying index: | SGI Smart Market Neutral Commodity Index (USD - Excess Return)
|
| Amount: | $2,824,000
|
| Maturity: | June 30, 2015
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 125% of any index gain; floor of par
|
| Initial index level: | 108.7446
|
| Pricing date: | Dec. 23
|
| Settlement date: | Dec. 31
|
| Underwriter: | RBC Capital Markets Corp.
|
| Fees: | 3.5%
|
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