By Susanna Moon
Chicago, Dec. 22 – Royal Bank of Canada priced $2.5 million of 0% Performance Leveraged Upside Securities due March 24, 2016 linked to the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 300% of any fund gain, up to a maximum return of 24%.
Investors will be exposed to any losses.
RBC Capital Markets, LLC is the agent with distribution through Morgan Stanley Smith Barney LLC.
| Issuer: | Royal Bank of Canada
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| Issue: | Performance Leveraged Upside Securities
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| Underlying fund: | Energy Select Sector SPDR fund
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| Amount: | $2.5 million
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| Maturity: | March 24, 2016
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Par plus 300% of fund gain, capped at 24%; exposure to any losses
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| Initial level: | 80.57
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| Pricing date: | Dec. 19
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| Settlement date: | Dec. 24
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| Agent: | RBC Capital Markets, LLC
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| Distributer: | Morgan Stanley Smith Barney LLC
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| Fees: | 1.75%
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| Cusip: | 78011Y884
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