By Susanna Moon
Chicago, Sept. 9 - Royal Bank of Canada priced $2 million of 0% buffered bullish enhanced return notes due March 13, 2012 based on the performance of 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 any fund gain, up to a maximum redemption amount of 127.5% of par.
Investors will receive par if the fund falls by 15% or less and will lose 1% for every 1% drop beyond 15%.
RBC Capital Markets Corp. is the underwriter.
| Issuer: | Royal Bank of Canada
|
| Issue: | Buffered bullish enhanced return notes
|
| Underlying ETF: | iShares MSCI Emerging Markets index fund
|
| Amount: | $2 million
|
| Maturity: | March 13, 2012
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus any fund gain, capped at 27.5%; 1% loss for every 1% drop beyond 15%
|
| Initial price: | $41.86
|
| Buffer level: | $35.58, or 85% of initial level
|
| Pricing date: | Sept. 8
|
| Settlement date: | Sept. 13
|
| Underwriter: | RBC Capital Markets Corp.
|
| Fees: | None
|
| Cusip: | 78008KKU6
|
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