New Issue: RBC prices $3.94 million trigger return optimization notes on Financial Select fund

By Marisa Wong

Madison, Wis., Aug. 29 - Royal Bank of Canada priced $3.94 million of 0% trigger return optimization securities due Aug. 31, 2016 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 double any fund gain, up to a maximum return of 30%.

If the fund finishes at or above the 75% trigger level, the payout will be par. Otherwise, investors will be fully exposed to any losses.

RBC Capital Markets, LLC is the underwriter with UBS Financial Services Inc. as dealer.

Issuer:	Royal Bank of Canada
Issue:	Trigger return optimization securities
Underlying fund:	Financial Select Sector SPDR fund
Amount:	$3,943,570
Maturity:	Aug. 31, 2016
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 200% of any fund gain, capped at 30%; par if fund falls by up to 25%; full exposure to any losses if fund finishes trigger level
Initial price:	$19.41
Trigger price:	$14.56, 75% of initial price
Pricing date:	Aug. 27
Settlement date:	Aug. 30
Underwriter:	RBC Capital Markets, LLC with UBS Financial Services Inc. as dealer
Fees:	2.5%
Cusip:	78009Q174

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