Published on 10/29/2012 in the Prospect News Structured Products Daily.
New Issue: RBC sells $1.56 million buffered bullish return notes linked to S&P 500
By Susanna Moon
Chicago, Oct. 29 - Royal Bank of Canada priced $1.56 million of 0% buffered bullish enhanced return notes due Oct. 31, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 115% of any index gain.
Investors will receive par if the index falls by up to 40% and will lose 1.6667% for every 1% decline beyond 40%.
RBC Capital Markets, LLC is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Buffered bullish enhanced return notes
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Underlying index: | S&P 500
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Amount: | $1,564,000
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Maturity: | Oct. 31, 2017
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 115% of any index gain; par if index falls by up to 40%; 1.6667% loss for every 1% drop beyond 40%
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Initial level: | 1,411.94
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Buffer level: | 847.16, 60% of initial level
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Pricing date: | Oct. 26
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Settlement date: | Oct. 31
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Agent: | RBC Capital Markets, LLC
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Fees: | 0.25%
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Cusip: | 78008SNA0
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