By Susanna Moon
Chicago, March 5 - Royal Bank of Canada priced $831,000 of 0% buffered bullish notes due March 7, 2013 based on the performance of the S&P GSCI Excess Return index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any gain in the index, up to a maximum return of 66%.
Investors will receive par if the index falls by 15% or less and will be exposed to any decline beyond 15%.
The price of the notes included a profit of $5.40 per $1,000 principal amount earned by RBC in hedging its exposure under the notes.
RBC Capital Markets Corp. is the underwriter.
| Issuer: | Royal Bank of Canada
|
| Issue: | Buffered bullish notes
|
| Underlying index: | S&P GSCI Excess Return index
|
| Amount: | $831,000
|
| Maturity: | March 7, 2013
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus any index gain, capped at 66%; exposure to losses beyond 15%
|
| Initial level: | 435.24
|
| Buffer level: | 369.96, or 85% of the initial level
|
| Pricing date: | March 3
|
| Settlement date: | March 8
|
| Underwriter: | RBC Capital Markets Corp.
|
| Fees: | None
|
| Cusip: | 78008HYP9
|
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