Published on 1/27/2011 in the Prospect News Structured Products Daily.
New Issue: RBC prices $528,000 buffered bullish enhanced return notes tied to S&P 500
By Angela McDaniels
Tacoma, Wash., Jan. 27 - Royal Bank of Canada priced $528,000 of 0% buffered bullish enhanced return notes due July 31, 2012 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any index gain, up to a maximum return of 11.5%. Investors will receive par if the index falls by 10% or less and will lose 1.111% for every 1% that it declines beyond 10%.
RBC Capital Markets, LLC is the underwriter.
Issuer: | Royal Bank of Canada
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Issue: | Buffered bullish enhanced return notes
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Underlying index: | S&P 500
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Amount: | $528,000
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Maturity: | July 31, 2012
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 200% of any index gain, capped at 11.5%; par if index falls by 10% or less; 1.111% loss for every 1% drop beyond 10%
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Initial index level: | 1,296.63
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Pricing date: | Jan. 26
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Settlement date: | Jan. 31
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Underwriter: | RBC Capital Markets, LLC
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Fees: | 0.25%
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Cusip: | 78008KXQ1
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