Published on 7/2/2012 in the Prospect News Structured Products Daily.
New Issue: RBC prices $1.53 million growth notes on iShares MSCI EAFE via Wells
By Susanna Moon
Chicago, July 2 - Royal Bank of Canada priced $1.53 million of 0% growth securities with leveraged upside participation to a cap and fixed percentage buffered downside due July 3, 2014 linked to the iShares MSCI EAFE index fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.75 times any gain in the fund, up to a maximum return of 24%.
Investors will receive par if the shares fall by up to 10% and will be exposed to losses beyond the 10% buffer.
Wells Fargo Securities, LLC is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Growth securities with leveraged upside participation to a cap and fixed percentage buffered downside
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Underlying fund: | iShares MSCI EAFE index fund
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Amount: | $1,527,000
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Maturity: | July 3, 2014
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 175% of any fund gain, capped at 24%; par if fund falls by up to 10%; exposure to losses beyond 10%
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Initial share price: | $48.22
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Buffer level: | $43.40, 90% of initial price
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Pricing date: | June 28
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Settlement date: | July 3
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Agent: | Wells Fargo Securities, LLC
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Fees: | 1.75%
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Cusip: | 78008SBV7
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