Published on 8/15/2011 in the Prospect News Structured Products Daily.
New Issue: RBC prices $17.45 million capped leveraged notes linked to S&P 500
By Susanna Moon
Chicago, Aug. 15 - Royal Bank of Canada priced $17.45 million of 0% Capped Leveraged Index Return Notes due Aug. 30, 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 of $10.00 plus 200% of any index gain, capped at $12.13 per note.
Investors will receive par if the index falls by up to 10% and will be exposed to any decline beyond 10%.
Bank of America Merrill Lynch is the agent.
Issuer: | Royal Bank of Canada
|
Issue: | Capped leveraged index return notes
|
Underlying index: | S&P 500
|
Amount: | $17,448,340
|
Maturity: | Aug. 30, 2013
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | Par of $10 plus 200% of any index gain, capped at 21.3%; par if index falls up to 10%, with exposure to losses beyond 10%
|
Initial level: | 1,172.64
|
Threshold level: | 1,055.38, or 90% of initial level
|
Pricing date: | Aug. 11
|
Settlement date: | Aug. 18
|
Agent: | Bank of America Merrill Lynch
|
Fees: | 2%
|
Cusip: | 78009M694
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.