Published on 8/1/2011 in the Prospect News Structured Products Daily.
New Issue: RBC prices $43.36 million Accelerated Return Notes tied to Russell 2000
By Jennifer Chiou
New York, Aug. 1 - Royal Bank of Canada priced $43.36 million of 0% Accelerated Return Notes due Sept. 28, 2012 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Bank of America Merrill Lynch is the agent.
The payout at maturity is par of $10 plus triple any gain in the index, up to a maximum return of 21.48%. Investors will be fully exposed to any index decline.
| Issuer: | Royal Bank of Canada
|
| Issue: | Accelerated Return Notes
|
| Underlying index: | Russell 2000
|
| Amount: | $43,360,370
|
| Maturity: | Sept. 28, 2012
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 300% of any index gain, capped at 21.48%; exposure to losses
|
| Initial level: | 799.34
|
| Pricing date: | July 28
|
| Settlement date: | Aug. 4
|
| Agent: | Bank of America Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 78009M751
|
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