By Marisa Wong
Madison, Wis., April 30 - Royal Bank of Canada priced $1.5 million of 0% bullish buffered return notes due July 31, 2012 linked to a basket of exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the SPDR S&P 500 trust, which makes up one third of the basket, and the SPDR S&P Midcap 400 ETF trust, the iShares MSCI EAFE index fund, the iShares MSCI Emerging Markets index fund and the SPDR Gold trust, each of which constitutes one sixth of the basket.
The payout at maturity will be par plus any increase in the basket, subject to a maximum return of 17%. Investors will receive par if the basket declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
RBC Capital Markets, LLC is the underwriter.
| Issuer: | Royal Bank of Canada
|
| Issue: | Bullish buffered return notes
|
| Underlying basket: | SPDR S&P 500 trust (one third of basket); SPDR S&P Midcap 400 ETF trust, iShares MSCI EAFE index fund, iShares MSCI Emerging Markets index fund and SPDR Gold trust (each makes up one sixth of basket)
|
| Amount: | $1.5 million
|
| Maturity: | July 31, 2012
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus any basket gain, with return capped at 17%; par if basket falls by 10% or less; 1% loss for every 1% decline beyond buffer
|
| Initial prices: | $118.04 for SPDR S&P 500; $151.90 for SPDR Gold; $51.69 for SPDR S&P Midcap; $40.52 for iShares MSCI EAFE; $177.49 for iShares MSCI EM
|
| Pricing date: | Aug. 26
|
| Settlement date: | Aug. 31
|
| Agent: | RBC Capital Markets, LLC
|
| Fees: | None
|
| Cusip: | 78008TRR7
|
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