New Issue: RBC prices $5.89 million one-year Stars linked to Russell 2000 index

By Marisa Wong

Madison, Wis., March 31 - Royal Bank of Canada priced $5.89 million of 0% Strategic Accelerated Redemption Securities due April 6, 2015 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index closes at or above its initial level on one of three observation dates, the notes will be called at par of $10 plus an annualized call premium of 11.7%. The observation dates are Sept. 19, Dec. 19, 2014 and March 30, 2015.

If the notes are not called and the final index value is equal to or greater than the initial value, the payout at maturity will be par. Investors will be fully exposed to any decline in the index.

BofA Merrill Lynch is the agent.

Issuer:	Royal Bank of Canada
Issue:	Strategic Accelerated Redemption Securities
Underlying index:	Russell 2000
Amount:	$5,885,570
Maturity:	April 6, 2015
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par unless final level is below initial level, in which case full exposure to losses
Call:	At par plus 11.7% per year if index closes at or above its initial level on any of three observation dates (Sept. 19, Dec. 19, 2014 and March 30, 2015)
Initial level:	1,151.4407
Pricing date:	March 27
Settlement date:	April 3
Agent:	BofA Merrill Lynch
Fees:	1.25%
Cusip:	78011D435

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.