Published on 6/6/2011 in the Prospect News Structured Products Daily.
New Issue: RBC prices $850,000 buffered bullish notes due 2013 tied to S&P 500
By Marisa Wong
Madison, Wis., June 6 - Royal Bank of Canada priced $850,000 of 0% buffered bullish notes due June 6, 2013 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 any index gain, up to a maximum return of 15%.
Investors will receive par if the index falls by 20% or less and will be exposed to any index decline beyond 20%.
RBC Capital Markets, LLC is the underwriter.
Issuer: | Royal Bank of Canada
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Issue: | Buffered bullish notes
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Underlying index: | S&P 500
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Amount: | $850,000
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Maturity: | June 6, 2013
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any index gain, return capped at 15%; exposure to losses beyond 20%
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Initial level: | 1,312.94
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Buffer level: | 1,050.35, or 80% of initial level
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Pricing date: | June 2
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Settlement date: | June 7
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Underwriter: | RBC Capital Markets, LLC
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Fees: | 0.45%
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Cusip: | 78008TFC3
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