By Susanna Moon
Chicago, June 12 - Royal Bank of Canada priced $16.96 million of 0% leveraged buffered exchange-traded fund-linked notes due Dec. 31, 2013 tied to the iShares MSCI Emerging Markets index fund, according to a 424B2 filing with the Securities and Exchange Commission.
Goldman, Sachs & Co. is the underwriter.
The payout at maturity will par plus 1.5 times any fund gain, up to a maximum settlement amount $1,201 per $1,000 principal amount.
Investors will receive par if the shares fall by up to 15% and will lose 1.1765% per 1% decline beyond 15%.
The initial fund price was set lower than the actual closing level at pricing, which was $37.91.
| Issuer: | Royal Bank of Canada
|
| Issue: | Leveraged buffered notes
|
| Underlying fund: | iShares MSCI Emerging Markets index fund
|
| Amount: | $16,962,000
|
| Maturity: | Dec. 31, 2013
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 150% of any fund gain, capped at 20.1%; par if shares fall by 15% or less; 1.1765% loss for every 1% drop beyond 15%
|
| Initial level: | $37.73
|
| Buffer level: | $32.0705, 85% of initial level
|
| Pricing date: | June 8
|
| Settlement date: | June 15
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 0.25%
|
| Cusip: | 78008C598
|
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