Published on 12/6/2011 in the Prospect News Structured Products Daily.
New issue: RBC prices $2.62 million buffered bullish enhanced notes on S&P 500
By Susanna Moon
Chicago, Dec. 6 - Royal Bank of Canada priced $2.62 million of 0% buffered bullish enhanced return notes due Dec. 7, 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 17.1%.
Investors will receive par if the index falls by 10% or less and will lose 1.111% for every 1% decline beyond 10%.
RBC Capital Markets, LLC is the agent.
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: | $2,623,000
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Maturity: | Dec. 7, 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 17.1%; par if index declines up to 10%; 1.111% loss for every 1% decline beyond 10%
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Initial index level: | 1,244.28
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Buffer level: | 1,119.85, 90% of initial level
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Pricing date: | Dec. 2
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Settlement date: | Dec. 9
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Agent: | RBC Capital Markets, LLC
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Fees: | 0.1%
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Cusip: | 78008TZH0
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