Published on 2/21/2012 in the Prospect News Structured Products Daily.
New issue: RBC prices $2.22 million 0% buffered bullish enhanced return notes linked to S&P 500
By Toni Weeks
San Diego, Feb. 21 - Royal Bank of Canada priced $2.22 million of 0% buffered bullish enhanced return notes due Feb. 25, 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 200% of any index gain, up to a maximum return of 15.9%.
Investors will receive par if the index falls by 5% or less and will lose 1% for every 1% decline beyond 5%.
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: | $2,224,000
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Maturity: | Feb. 25, 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 15.9%; par if index declines up to 5%; 1% loss for every 1% decline beyond 5%
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Initial index level: | 1,358.04
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Buffer level: | 1,290.14, 95% of initial level
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Pricing date: | Feb. 16
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Settlement date: | Feb. 24
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Agent: | RBC Capital Markets, LLC
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Fees: | 0.1%, used for selling concessions
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Cusip: | 78008TV35
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