By Susanna Moon
Chicago, Dec. 20 - Royal Bank of Canada priced $16.53 million of 0% leveraged buffered equity index-linked notes due June 24, 2013 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Goldman Sachs & Co. is the underwriter.
The payout at maturity will be par plus double any index gain, up to a maximum settlement amount of $1,189 per $1,000 principal amount.
Investors will receive par if the index falls by up to 10% and will lose 1.1111% for each 1% decline beyond 10%.
The initial index level is higher than the closing level at pricing, which was 1219.66.
Issuer: | Royal Bank of Canada
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Issue: | Leveraged buffered equity index-linked notes
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Underlying index: | S&P 500
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Amount: | $16.53 million
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Maturity: | June 24, 2013
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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 18.9%; par if index falls by up to 10%; 1.1111% loss for each 1% drop beyond 10%
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Initial index level: | 1,230.42
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Buffer level: | 1,107.378, or 90% of initial index level
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Pricing date: | Dec. 16
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Settlement date: | Jan. 3
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Underwriter: | Goldman Sachs & Co.
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Fees: | 0.25%
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Cusip: | 78010V642
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