By Jennifer Chiou
New York, Oct. 30 - Royal Bank of Canada priced $418,000 of zero-coupon principal-protected bullish barrier notes due Oct. 29, 2010 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index return is positive, the payout at maturity will be:
• Par plus 6% if the index closes above the upper barrier - 128% of the initial index level - on any day during the life of the notes; or
• Par plus the final index return if the index does not close above the upper barrier.
If the final index return is flat or negative, the payout will be par.
RBC Capital Markets Corp. is the underwriter.
| Issuer: | Royal Bank of Canada
|
| Issue: | Principal-protected bullish barrier notes
|
| Underlying index: | S&P 500
|
| Amount: | $418,000
|
| Maturity: | Oct. 29, 2010
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 6% if index closes above upper barrier during life of notes and finishes above initial level; par plus final index return if index does not close above upper barrier during life of notes and finishes above initial level; par if index finishes at or below initial level
|
| Initial index level: | 940.51
|
| Upper barrier: | 1,203.85, 128% of initial level
|
| Pricing date: | Oct. 28
|
| Settlement date: | Oct. 31
|
| Underwriter: | RBC Capital Markets Corp.
|
| Fees: | 2.25%
|
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