Published on 12/19/2012 in the Prospect News Structured Products Daily.
New Issue: RBC prices $336,000 buffered enhanced return notes on iShares MSCI EM
By Susanna Moon
Chicago, Dec. 19 - Royal Bank of Canada priced $336,000 of 0% buffered enhanced return notes due June 12, 2014 linked to the iShares MSCI Emerging Markets index fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.7 times any gain in the fund, up to a maximum return of $1,178.50 per $1,000 principal amount.
Investors will receive par if the shares fall by up to 12.5% and will lose 1.1429% for each 1% decline beyond 12.5%.
RBC Capital Markets, LLC is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Buffered enhanced return notes
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Underlying fund: | iShares MSCI Emerging Markets index fund
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Amount: | $336,000
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Maturity: | June 12, 2014
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 170% of any fund gain, capped at 17.85%; par if shares fall by 12.5% or less; 1.1429% loss for every 1% decline beyond 12.5%
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Initial level: | $43.38
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Trigger level: | 87.5% of initial level
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Pricing date: | Dec. 14
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Settlement date: | Dec. 21
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Agent: | RBC Capital Markets, LLC
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Fees: | None
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Cusip: | 78008STF3
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