Published on 12/3/2012 in the Prospect News Structured Products Daily.
New Issue: RBC sells $1.18 million buffered bullish return notes linked to S&P 500
By Susanna Moon
Chicago, Dec. 3 - Royal Bank of Canada priced $1.18 million of 0% buffered bullish enhanced return notes due May 30, 2014 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 200% of any gain in the index, up to a maximum return of 10.3%.
Investors will receive par if the index falls by up to 10% and will lose 1% 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: | $1,175,000
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Maturity: | May 30, 2014
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus double any index gain, capped at 10.3%; par if index falls by up to 10%; exposure to losses beyond 10%
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Initial level: | 1,415.95
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Buffer level: | 1,274.36, 90% of initial level
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Pricing date: | Nov. 29
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Settlement date: | Nov. 30
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Agent: | RBC Capital Markets, LLC
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Fees: | 1.5%
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Cusip: | 78008SRT5
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