Published on 5/2/2011 in the Prospect News Structured Products Daily.
New Issue: RBC prices $40.34 million Accelerated Return Notes linked to Russell 2000 via Merrill
By Susanna Moon
Chicago, May 2 - Royal Bank of Canada priced $40.34 million of 0% Accelerated Return Notes due June 29, 2012 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Merrill Lynch is the underwriter.
The payout at maturity will be par of $10.00 plus triple any gain in the index, up to a maximum return of $11.905 per note.
Investors will be exposed to any losses.
Issuer: | Royal Bank of Canada
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Issue: | Accelerated Return Notes
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Underlying index: | Russell 2000
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Amount: | $40,339,700
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Maturity: | June 29, 2012
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Coupon: | 0%
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Price: | Par of $10.00
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Payout at maturity: | Par plus 300% of any index gain, capped at 19.05%; exposure to any losses
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Initial index level: | 861.55
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Pricing date: | April 28
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Settlement date: | May 5
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Underwriter: | Merrill Lynch
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Fees: | 2%
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Cusip: | 78009D306
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