By Angela McDaniels
Tacoma, Wash., April 28 - Royal Bank of Canada priced $18.56 million of 0% leveraged market-linked step-up notes due April 28, 2017 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the S&P 500 index with a 40% weight, the Euro Stoxx 50 index with a 30% weight and the MSCI EAFE index with a 30% weight.
If the final basket level is greater than or equal to the step-up value, 118% of the initial level, then the payout at maturity will be par of $10 plus 140% of the basket return.
If the final basket level is greater than or equal to the initial level but less than the step-up value, then the payout will be par plus 18%.
If the final basket level is less than the initial basket level, then investors will have one-to-one exposure to the decline.
BofA Merrill Lynch is the agent.
| Issuer: | Royal Bank of Canada
|
| Issue: | Leveraged market-linked step-up notes
|
| Underlying indexes: | S&P 500 index (40% weight), Euro Stoxx 50 index (30% weight) and MSCI EAFE index (30% weight)
|
| Amount: | $18,561,780
|
| Maturity: | April 28, 2017
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If final basket level is greater than or equal to step-up value, par plus 140% of basket return; if final basket level is greater than or equal to initial level but less than step-up value, par plus 18%; if final basket level is less than initial basket level, one-to-one exposure to decline
|
| Initial index levels: | 1,878.61 for S&P 500; 3,189.81 for Euro Stoxx 50; 1,927.38 for MSCI EAFE
|
| Step-up value: | 118% of initial basket level
|
| Pricing date: | April 24
|
| Settlement date: | May 1
|
| Agent: | BofA Merrill Lynch
|
| Fees: | 2.25%
|
| Cusip: | 78011D351
|
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