New Issue: RBC prices $665,000 buffered bullish enhanced return notes on S&P 500

By Jennifer Chiou

New York, June 28 - Royal Bank of Canada priced $665,000 of 0% buffered bullish enhanced return notes due June 30, 2014 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 150% of any increase in the index, subject to a maximum return of 22.25%.

Investors will receive par if the index declines by 15% or less and will lose 1% for every 1% that it declines beyond the 15% buffer.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Buffered bullish enhanced return notes
Underlying index:	S&P 500
Amount:	$665,000
Maturity:	June 30, 2014
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 1.5 times any index gain, capped at 22.25%; par if index falls by up to 15%; exposure to losses beyond 15%
Initial level:	1,319.99
Buffer level:	1,121.99, 85% of initial level
Pricing date:	June 26
Settlement date:	June 29
Agent:	RBC Capital Markets, LLC
Fees:	0.25%
Cusip:	78008SCB0

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