Published on 1/28/2011 in the Prospect News Structured Products Daily.
New Issue: RBC prices $5.63 million direct investment notes linked to 16 stocks
By Angela McDaniels
Tacoma, Wash., Jan. 28 - Royal Bank of Canada priced $5.63 million of 0% direct investment notes due Feb. 29, 2012 linked to a basket of 16 equity securities, according to a 424B2 filing with the Securities and Exchange Commission.
The equally weighted basket includes the American Depositary Receipts of Companhia de Saneamento Basico do Estado de Sao Paulo - Sabesp and Kubota Corp. and the common stocks of Air Products and Chemicals, Inc., Badger Meter, Inc., Calgon Carbon Corp., Church & Dwight Co., Inc., Deere & Co., Ecolab Inc., Federal Signal Corp., Gardner Denver, Inc., Insituform Technologies, Inc., Itron, Inc., Layne Christensen Co., Lindsay Corp., ProLogis, and Whirlpool Corp.
The payout at maturity will be (a) par multiplied by (b) 97% multiplied by (c) one plus the basket return plus the basket dividend yield.
The basket dividend yield will be the sum of the dividends declared on the underlying stocks during the life of the notes divided by 16.
The underwriter is RBC Capital Markets, LLC.
| Issuer: | Royal Bank of Canada
|
| Issue: | Direct investment notes
|
| Underlying stocks: | Air Products and Chemicals, Inc., Badger Meter, Inc., Calgon Carbon Corp., Church & Dwight Co., Inc., Deere & Co., Ecolab Inc., Federal Signal Corp., Gardner Denver, Inc., Insituform Technologies, Inc., Itron, Inc., Kubota Corp., Layne Christensen Co., Lindsay Corp., ProLogis, Companhia de Saneamento Basico do Estado de Sao Paulo - Sabesp and Whirlpool Corp., equally weighted
|
| Amount: | $5,629,000
|
| Maturity: | Feb. 29, 2012
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Product of (a) par, (b) 97% and (c) one plus basket return plus basket dividend yield
|
| Pricing date: | Jan. 26
|
| Settlement date: | Jan. 31
|
| Underwriter: | RBC Capital Markets, LLC
|
| Fees: | 2.25%
|
| Cusip: | 78008KXL2
|
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