By Jennifer Chiou
New York, Sept. 28 - Royal Bank of Canada priced $963,000 of 0% buffered bullish digital notes due Sept. 28, 2012 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes above its initial level, the payout at maturity will be par plus a digital coupon of 17.5%.
Investors will receive par if the index falls by 20% or less and will be exposed to any decline beyond 20%.
RBC Capital Markets Corp. is the underwriter.
Issuer: | Royal Bank of Canada
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Issue: | Buffered bullish digital notes
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Underlying index: | Russell 2000
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Amount: | $963,000
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Maturity: | Sept. 28, 2012
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus digital coupon of 17.5% if index gains; par if index falls by 20% or less; exposure to any decline beyond 20%
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Initial level: | 668.29
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Buffer level: | 534.63, 80% of the initial level
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Pricing date: | Sept. 27
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Settlement date: | Sept. 30
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Underwriter: | RBC Capital Markets Corp.
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Fees: | 2%
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Cusip: | 78008KKV4
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