By Toni Weeks
San Diego, June 25 - Royal Bank of Canada priced $10.73 million of buffered autocallable optimization securities due July 1, 2013 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index closes at or above the initial level on any quarterly observation date, the notes will be called at par plus an annualized call return of 8.55%.
If the notes are not called and the index falls by up to 10%, the payout at maturity will be par.
Otherwise, investors will lose 1% for each 1% decline beyond the 10% buffer.
UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.
| Issuer: | Royal Bank of Canada
|
| Issue: | Buffered autocallable optimization securities
|
| Underlying index: | S&P 500
|
| Amount: | $10,733,000
|
| Maturity: | July 1, 2013
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final index level is at least 90% of initial level, par; otherwise, 1% loss for every 1% decline beyond 10%
|
| Initial level: | 1,325.51
|
| Trigger level: | 80% of initial price
|
| Call: | At par plus 8.55% per year if index closes at or above initial level on quarterly observation date
|
| Pricing date: | June 21
|
| Settlement date: | June 29
|
| Agents: | UBS Financial Services Inc. and RBC Capital Markets, LLC
|
| Fees: | 1.5%
|
| Cusip: | 78008D554
|
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