By Susanna Moon
Chicago, May 22 - Royal Bank of Canada priced $3.3 million of 0% equity index-linked notes due May 27, 2014 linked to the S&P MidCap 400 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any index gain, up to a maximum settlement amount $1,345 for each $1,000 principal amount.
Investors will be exposed to any losses.
The initial index level was set at higher than the actual closing level of the index at pricing, which was 905.28.
RBC Capital Markets, LLC is the underwriter.
| Issuer: | Royal Bank of Canada
|
| Issue: | Equity index-linked notes
|
| Underlying index: | S&P MidCap 400
|
| Amount: | $3.3 million
|
| Maturity: | May 27, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 200% of any index gain, capped at 34.5%; exposure to any loss
|
| Initial index level: | 920.00
|
| Pricing date: | May 18
|
| Settlement date: | May 25
|
| Underwriter: | RBC Capital Markets, LLC
|
| Fees: | 1.5%
|
| Cusip: | 78008T7J7
|
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