By Jennifer Chiou
New York, March 16 - Royal Bank of Canada priced $1.14 million of buffered bullish digital notes due April 19, 2010 linked to the United States Oil Fund LP, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus the 23% digital coupon if the fund finishes above its initial price.
Investors will receive par if the shares fall by up to 20% and will be exposed to losses beyond 20%.
RBC Capital Markets Corp. is the underwriter.
| Issuer: | Royal Bank of Canada
|
| Issue: | Buffered bullish digital notes
|
| Underlying ETF: | United States Oil Fund LP
|
| Amount: | $1.14 million
|
| Maturity: | April 19, 2010
|
| Coupon: | 23% digital coupon
|
| Price: | Par
|
| Payout at maturity: | Par plus 23% if the fund finishes above the initial price; par if share price declines by 20% or less; 1% loss for every 1% decline beyond 20%
|
| Initial share price: $27.63
|
| Buffer level: | $22.10, 80% of the initial price
|
| Pricing date: | March 13
|
| Settlement date: | March 18
|
| Underwriter: | RBC Capital Markets Corp.
|
| Fees: | 1.75%
|
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