Published on 5/1/2013 in the Prospect News Structured Products Daily.
New Issue: RBC prices $36.55 million Accelerated Return Notes linked to Euro Stoxx
By Jennifer Chiou
New York, May 1 - Royal Bank of Canada priced $36,552,170 of 0% Accelerated Return Notes due June 27, 2014 tied to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 300% of the index return, subject to a maximum payout of par plus 26.4%. Investors will lose 1% for every 1% decline in the index.
BofA Merrill Lynch is the underwriter.
Issuer: | Royal Bank of Canada
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Issue: | Accelerated Return Notes
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Underlying index: | Euro Stoxx 50
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Amount: | $36,552,170
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Maturity: | June 27, 2014
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If index return is positive, par plus 300% of index return, subject to maximum payout of par plus 26.4%; 1% loss for every 1% decline
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Initial index level: | 2,704.41
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Pricing date: | April 25
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Settlement date: | May 2
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Underwriter: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 78008Q605
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