By Susanna Moon
Chicago, Dec. 3 - Royal Bank of Canada priced $5 million of 5.1% autocallable notes due Sept. 1, 2015 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes will be called at par plus accrued interest if both indexes close at or above their initial levels on a quarterly call date.
The payout at maturity will be par unless the lesser performing index finishes below the 70% barrier level, in which case investors will be fully exposed to any losses of the lesser performing index.
RBC Capital Markets LLC is the underwriter with J.P. Morgan Securities LLC as placement agent.
| Issuer: | Royal Bank of Canada
|
| Issue: | Autocallable notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $5 million
|
| Maturity: | Sept. 1, 2015
|
| Coupon: | 5.1%, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par if lesser performing index finishes at or above barrier level; otherwise, full exposure to losses
|
| Call: | Par plus accrued interest if both indexes close at or above their initial levels on any quarterly call date
|
| Initial levels: | 1,807.23 for S&P, 1,141.33 for Russell
|
| Barrier levels: | 70% of initial levels
|
| Pricing date: | Nov. 27
|
| Settlement date: | Dec. 3
|
| Agent: | RBC Capital Markets LLC with J.P. Morgan Securities LLC as placement agent
|
| Fees: | 0.6%
|
| Cusip: | 78010UKH9
|
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