By Jennifer Chiou
New York, June 16 – Royal Bank of Canada priced $5,584,800 of 0% Strategic Accelerated Redemption Securities due June 26, 2015 tied to a basket of two equally weighted funds, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the iShares Russell 2000 exchange-traded fund and the iShares MSCI Emerging Markets exchange-traded fund.
If the basket closes at or above the initial level on the quarterly observation dates beginning on Dec. 19, 2014, the notes will be called at par plus an annualized premium of 6.86%.
Investors will receive par if the basket falls by up to 5% and will lose 1% for every 1% decline in the basket beyond 5%.
BofA Merrill Lynch is the underwriter.
| Issuer: | Royal Bank of Canada
|
| Issue: | Strategic Accelerated Redemption Securities
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| Underlying basket: | iShares Russell 2000 exchange-traded fund and the iShares MSCI Emerging Markets exchange-traded fund, equally weighted
|
| Amount: | $5,584,800
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| Maturity: | June 26, 2015
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par if basket falls by up to 5%; 1% loss for every 1% decline beyond 5%
|
| Call: | At par plus annualized premium of 6.86% if basket closes at or above initial level on quarterly observation dates beginning on Dec. 19, 2014
|
| Pricing date: | June 12
|
| Settlement date: | June 19
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 1.25%
|
| Cusip: | 78011X845
|
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