By Jennifer Chiou
New York, July 10 - Royal Bank of Canada priced $1.3 million of 0% buffered bullish enhanced return notes due July 13, 2012 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 130% of any index gain, up to a maximum redemption amount of 150.7% of par.
Investors will receive par if the index falls by up to 10% and will be exposed to declines beyond 10%.
RBC Capital Markets Corp. is the underwriter.
| Issuer: | Royal Bank of Canada
|
| Issue: | Buffered bullish enhanced return notes
|
| Underlying index: | S&P 500
|
| Amount: | $1.3 million
|
| Maturity: | July 13, 2012
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 130% of any index gain, capped at 150.7% of par; par if index falls by up to 10% and exposure to losses beyond 10%
|
| Initial index level: | 882.68
|
| Buffer level: | 794.41, 90% of initial level
|
| Pricing date: | July 9
|
| Settlement date: | July 14
|
| Underwriter: | RBC Capital Markets Corp.
|
| Fees: | 1.75%
|
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