Published on 4/3/2012 in the Prospect News Structured Products Daily.
New Issue: RBC prices $4.52 million buffered bullish notes with 17% cap on S&P 500
By Susanna Moon
Chicago, April 3 - Royal Bank of Canada priced $4.52 million of 0% buffered bullish return notes due April 2, 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 any index gain, up to a maximum return of 17%.
Investors will receive par if the index falls by up to 20% and will be exposed to any decline beyond 20%.
RBC Capital Markets, LLC is the underwriter.
Issuer: | Royal Bank of Canada
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Issue: | Buffered bullish return notes
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Underlying index: | S&P 500
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Amount: | $4,517,000
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Maturity: | April 2, 2014
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any index gain, capped at 17%; par if index falls by up to 20%; exposure to losses beyond 20%
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Initial level: | 1,408.47
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Buffer level: | 1,126.78, 80% of initial level
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Pricing date: | March 30
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Settlement date: | April 4
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Agent: | RBC Capital Markets, LLC
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Fees: | 0.25%
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Cusip: | 78008T3K8
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