By Susanna Moon
Chicago, Sept. 27 - Royal Bank of Canada priced $1.07 million of buffered optimization securities due Oct. 31, 2014 linked to the Financial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any fund gain, up to a maximum return of 14.16%.
Investors will receive par if the shares fall by up to 10% and will lose 1% for each 1% decline beyond 10%.
UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.
| Issuer: | Royal Bank of Canada
|
| Issue: | Buffered optimization securities
|
| Underlying fund: | Financial Select Sector SPDR
|
| Amount: | $1.07 million
|
| Maturity: | Oct. 31, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus any fund gain, capped at 14.16%; par if shares fall by 10% or less; exposure to losses beyond 10%
|
| Initial level: | $20.12
|
| Buffer level: | 90% of initial price
|
| Pricing date: | Sept. 25
|
| Settlement date: | Sept. 30
|
| Agents: | UBS Financial Services Inc. and RBC Capital Markets, LLC
|
| Fees: | None
|
| Cusip: | 78009Q398
|
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