Published on 8/1/2011 in the Prospect News Structured Products Daily.
New Issue: RBC prices $21.52 million Accelerated Return Notes linked to MSCI EAFE index via Merrill
By Toni Weeks
San Diego, Aug. 1 - Royal Bank of Canada priced $21.52 million 0% Accelerated Return Notes due Sept. 28, 2012 linked to the MSCI EAFE index, according to a 424B2 filing with the Securities and Exchange Commission.
Bank of America Merrill Lynch is the agent.
The payout at maturity is par of $10 plus triple any gain in the index, up to a maximum return of 18.15%. Investors will be fully exposed to any index decline.
| Issuer: | Royal Bank of Canada
|
| Issue: | Accelerated Return Notes
|
| Underlying index: | MSCI EAFE
|
| Amount: | $21,516,530
|
| Maturity: | Sept. 28, 2012
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 300% of any index gain, capped at 18.15%; exposure to losses
|
| Initial level: | 1,684.27
|
| Pricing date: | July 28
|
| Settlement date: | Aug. 4
|
| Agent: | Bank of America Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 78009M769
|
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