New Issue: RBC prices $3.13 million buffered bullish enhanced notes on Financial Select Sector SPDR

By Jennifer Chiou

New York, March 19 – Royal Bank of Canada priced $3,134,000 of 0% buffered bullish enhanced return notes due March 23, 2017 linked to the Financial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 175% of any fund gain, capped at 20%.

Investors will receive par if the fund falls by up to 10% and will be exposed to losses at a rate of 1.1111% per 1% drop beyond 10%.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Buffered bullish enhanced return notes
Underlying fund: Financial Select Sector SPDR fund
Amount:	$3,134,000
Maturity:	March 23, 2017
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 175% of any index gain, capped at 20%; par if fund falls by up to 10%; exposure to any losses at a rate of 1.1111% per 1% drop beyond 10%
Initial level:	$24.51
Buffer level:	$22.06, 90% of initial level
Pricing date:	March 18
Settlement date:	March 23
Agent:	RBC Capital Markets, LLC
Fees:	0.1%
Cusip:	78012KCS4

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