RBC plans enhanced return notes linked to S&P 500

By Susanna Moon

Chicago, March 3 - Royal Bank of Canada plans to price zero-coupon enhanced return (leveraged) notes due April 30, 2009 linked to the S&P 500 index, according to a 424B5 filing with the Securities and Exchange Commission.

If the final index level is at least the initial level, the payout at maturity will be par plus triple any index gain, capped at between 115% and 119% of par.

Otherwise, the payout will be par minus the index decline.

The notes are expected to price on March 26 and settle on March 31.

RBC Capital Markets Corp. will be the underwriter.

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