By Susanna Moon
Chicago, May 10 - Royal Bank of Canada priced $2 million of 0% buffered bullish digital notes due Nov. 10, 2011 based on the performance of the PowerShares QQQ Trust, series 1, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund finishes above its initial price, the payout at maturity will be par plus a digital coupon of 10.3%.
Investors will receive par if the shares fall by up to 15% and will be exposed to any decline beyond 15%.
RBC Capital Markets Corp. is the underwriter.
| Issuer: | Royal Bank of Canada
|
| Issue: | Buffered bullish digital notes
|
| Underlying fund: | PowerShares QQQ Trust, series 1
|
| Amount: | $2 million
|
| Maturity: | Nov. 10, 2011
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 10.3% if fund return is positive; exposure to drop beyond 15%
|
| Initial level: | $46.57
|
| Buffer level: | $39.58, or 85% of initial price
|
| Pricing date: | May 6
|
| Settlement date: | May 11
|
| Underwriter: | RBC Capital Markets Corp.
|
| Fees: | 2%
|
| Cusip: | 78008H3Q1
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
