Published on 6/17/2013 in the Prospect News Structured Products Daily.
New Issue: RBC prices $16.03 million buffered notes linked to MSCI EAFE
By Angela McDaniels
Tacoma, Wash., June 17 - Royal Bank of Canada priced $16.03 million of 0% buffered notes due June 16, 2016 linked to the MSCI EAFE index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus the index return, subject to a maximum settlement amount of $1,385 per $1,000 principal amount of notes. Investors will receive par if the index declines by 20% or less and will lose 1.25% for every 1% that it declines beyond 20%, if any.
RBC Capital Markets, LLC is the underwriter.
Issuer: | Royal Bank of Canada
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Issue: | Buffered notes
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Underlying index: | MSCI EAFE
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Amount: | $16,026,000
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Maturity: | June 16, 2016
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any index gain, up to 38.5% cap; par if index declines by 20% or less; 1.25% loss for every 1% decline beyond 20%, if any
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Initial index level: | 1,676.65
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Pricing date: | June 13
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Settlement date: | June 20
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Underwriter: | RBC Capital Markets, LLC
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Fees: | 2.67%
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Cusip: | 78008S2N5
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