RBC accelerated Scarp series in US raises over $200m

Royal Bank of Canada's latest set of Accelerated Return Notes have struck recently and collected a total of $231.8m across five offerings, each linked to a different underlying.

A number of providers approached by SRP over the past couple of weeks have pointed at a trend of increasing demand across North America for capital-at-risk products with accelerated returns on the upside. Sales coming from this demand have translated extremely well as reflected by product volumes.

All five one-year notes offer 300% participation in the rise of the underlying subject to a maximum capital return of between 126.3% and 136%. Capital is reduced on a one-for-one basis if the level of the index at maturity is below its starting level.

The S&P500-linked note raised $90.77m, the NYSE Arca Gold Miners $68.84m, the Russell2000 $27.54m, the S&P400 MidCap $24.39m and the MSCI EAFE $20.24m.

This latest Accelerated Return notes series is exclusively distributed by Merrill Lynch.

These products are available in Recent Additions (USA).