Published on 7/28/2011 in the Prospect News Structured Products Daily.
New Issue: RBC prices $606,000 buffered bullish enhanced notes linked to S&P 500
By Susanna Moon
Chicago, July 28 - Royal Bank of Canada priced $606,000 of 0% buffered bullish enhanced return notes due July 31, 2013 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 1.25 times any index gain, up to a maximum return of 14.5%.
Investors will receive par if the index falls by up to 15% and will be exposed to any index decline beyond 15%.
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: | $606,000
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Maturity: | July 31, 2013
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 125% of any index gain, capped at 14.5%; par if index falls by up to 15%; exposure to losses beyond 15%
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Initial level: | 1,331.94
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Buffer level: | 1,132.15, or 85% of initial level
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Pricing date: | July 26
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Settlement date: | July 29
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Underwriter: | RBC Capital Markets, LLC
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Fees: | 0.25%
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Cusip: | 78008TJY1
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