Published on 4/2/2013 in the Prospect News Structured Products Daily.
New Issue: RBC prices $9.59 million commodity-linked notes due 2014 tied to gold
By Susanna Moon
Chicago, April 2 - Royal Bank of Canada priced $9.59 million of 0% commodity-linked notes due Jan. 23, 2014 tied to the price of gold, according to a 424B2 filing with the Securities and Exchange Commission.
If the price of gold finishes at or above 90% of the initial level, the payout at maturity will be par plus the return, with a minimum settlement amount of $979.20 and up a maximum payment of $1,879.20, each per $1,000 principal amount of notes.
Otherwise, the payout will be the minimum settlement amount plus par times 90% of the return.
Goldman Sachs & Co. is the underwriter.
Issuer: | Royal Bank of Canada
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Issue: | Commodity-linked notes
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Underlying commodity: | Gold
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Amount: | $9,587,000
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Maturity: | Jan. 23, 2014
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If gold price finishes at or above trigger level, par plus return, floor of $979.20 and capped at $1,879.20, each per $1,000 of notes; otherwise, minimum settlement amount plus par times 90% of return
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Initial price: | $1,598.25
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Pricing date: | March 28
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Settlement date: | April 4
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Underwriter: | Goldman Sachs & Co.
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Fees: | 0.65%
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Cusip: | 78008SJ49
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