Published on 7/25/2012 in the Prospect News Structured Products Daily.
New Issue: RBC sells $1.82 million buffered bullish return notes linked to S&P 500
By Susanna Moon
Chicago, July 25 - Royal Bank of Canada priced $1.82 million of 0% buffered bullish return notes due Aug. 28, 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 any gain in the index, up to a maximum return of 11.8%.
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 return notes
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Underlying index: | S&P 500
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Amount: | $1,821,000
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Maturity: | Aug. 28, 2013
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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 11.8%; par if index falls by up to 10%; exposure to losses beyond 10%
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Initial level: | 1,350.52
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Buffer level: | 1,215.47, 90% of initial level
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Pricing date: | July 23
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Settlement date: | July 26
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Agent: | RBC Capital Markets, LLC
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Fees: | 1%
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Cusip: | 78008SEN2
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