New Issue: RBC sells $1.08 million buffered bullish enhanced notes on iShares Russell Microcap fund

By Jennifer Chiou

New York, Dec. 23 - Royal Bank of Canada priced $1.08 million of 0% buffered bullish enhanced return notes due Dec. 28, 2011 linked to the iShares Russell Microcap index fund, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus double any gain in the fund, up to a maximum return of 23%.

Investors will receive par for losses up to 15% and will share in losses beyond 15%.

RBC Capital Markets Corp. is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Buffered bullish enhanced return notes
Underlying fund:	iShares Russell Microcap index fund
Amount:	$1,075,000
Maturity:	Dec. 28, 2011
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 200% of any fund gain, capped at 123% of par; par for losses up to 15% and share in losses beyond 15%
Initial fund price:	$38.85
Buffer price:	$33.02, 85% of initial level
Pricing date:	Dec. 22
Settlement date:	Dec. 28
Underwriter:	RBC Capital Markets Corp.
Fees:	None

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