By Angela McDaniels
Tacoma, Wash., Sept. 30 - Royal Bank of Canada priced $4.61 million of 0% growth securities with contingent downside production due April 4, 2016 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Wells Fargo Securities, LLC is the underwriter.
If the final index level is greater than the initial index level, the payout at maturity will be par plus 120% of the increase.
If the final index level is greater than the knock-in level - 60% of the initial index level - and less than or equal to the initial index level, the payout will be par.
If the final index level is less than or equal to the knock-in level, investors will be fully exposed to the decline from the initial level.
| Issuer: | Royal Bank of Canada
|
| Issue: | Growth securities with contingent downside protection
|
| Underlying index: | Dow Jones industrial average
|
| Amount: | $4,616,000
|
| Maturity: | April 4, 2016
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 120% of any index gain; par if index falls by up to 40%; full exposure to decline from initial level if index declines by more than 40%
|
| Initial index level: | 11,010.9
|
| Knock-out level: | 6,606.54, 60% of initial level
|
| Pricing date: | Sept. 28
|
| Settlement date: | Oct. 3
|
| Underwriter: | Wells Fargo Securities, LLC
|
| Fees: | 2.5%
|
| Cusip: | 78008TTG9
|
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