New York, Nov. 30 - Royal Bank of Canada priced $28.85 million of 0% Accelerated Return Notes due Jan. 28, 2011 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Merrill Lynch & Co. is the underwriter.
The payout at maturity will be par of $10 plus triple any index gain, up to a maximum return of 19.02%.
Investors will be exposed to any index decline.
| Issuer: | Royal Bank of Canada
|
| Issue: | Accelerated Return Notes
|
| Underlying index: | S&P 500
|
| Amount: | $28.85 million
|
| Maturity: | Jan. 28, 2011
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus triple any index gain, capped at 19.02%; exposure to losses
|
| Initial index level: | 1,105.65
|
| Pricing date: | Nov. 24
|
| Settlement date: | Dec. 7
|
| Underwriter: | Merrill Lynch & Co.
|
| Fees: | 2%
|
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