By Toni Weeks
San Luis Obispo, Calif., Jan. 30 - Royal Bank of Canada priced $4.27 million of 0% bullish barrier booster notes due Feb. 2, 2017 linked to the SPDR Dow Jones Industrial Average exchange-traded fund trust, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund return is positive but not greater than 25%, the payout at maturity will be par plus a fixed return of 25%.
If the fund return is greater than 25%, the payout at maturity will be par plus 125% of the percentage increase above 25% plus the 25% fixed return.
Investors will receive par if the fund falls by up to 25% and will be fully exposed to losses if the shares fall below the 75% barrier level.
RBC Capital Markets, LLC is the underwriter.
| Issuer: | Royal Bank of Canada
|
| Issue: | Bullish barrier booster notes
|
| Underlying fund: | SPDR Dow Jones Industrial Average ETF trust
|
| Amount: | $4,273,000
|
| Maturity: | Feb. 2, 2017
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If fund return is positive but not more than 25%, par plus 25%; if fund return is greater than 25%, par plus 125% of the percentage increase above 25%, plus 25%; par if fund falls by up to 25%; exposure to losses if shares fall below 75% barrier level
|
| Initial price: | $138.65
|
| Pricing date: | Jan. 28
|
| Settlement date: | Jan. 31
|
| Underwriter: | RBC Capital Markets, LLC
|
| Fees: | 3.25%
|
| Cusip: | 78008SVF0
|
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