By Marisa Wong
Madison, Wis., May 4 - Royal Bank of Canada priced $4.23 million of 0% leveraged buffered equity index-linked notes due May 22, 2014 tied 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 1.5 times the index gain, subject to a maximum settlement of $1,318.75 per $1,000 note.
Investors will receive par if the index falls by up to 10% and will share in losses at a rate of 1.1111% per 1% decline beyond the 10% buffer.
The initial index level, 1,503.63, is lower than the actual closing level of 1,504.56 on the pricing date.
Goldman, Sachs & Co. is the underwriter.
| Issuer: | Royal Bank of Canada
|
| Issue: | Leveraged buffered equity index-linked notes
|
| Underlying index: | MSCI EAFE
|
| Amount: | $4,234,000
|
| Maturity: | May 22, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index return is positive, par plus 150% of index gain, capped at 31.875%; par if index falls by up to 10%; 1.1111% loss for every 1% drop beyond 10%
|
| Initial level: | 1,503.63
|
| Pricing date: | May 2
|
| Settlement date: | May 9
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 0.25%
|
| Cusip: | 78008C325
|
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