New Issue: RBC prices $4.53 million buffered digital notes tied to Russell 2000

By Toni Weeks

San Diego, May 7 - Royal Bank of Canada priced $4.53 million of 0% buffered digital notes due Nov. 7, 2013 tied to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus the digital coupon of 18.25%.

Investors will receive par if the index falls by up to 15% and will lose 1.176% for every 1% decline beyond the 15% buffer.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Buffered digital notes
Underlying index:	Russell 2000
Amount:	$4,528,000
Maturity:	Nov. 7, 2013
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus 18.25%; par if index falls by up to 15%; 1.176% loss for every 1% decline beyond 15%
Initial level:	806.59
Buffer level:	685.60, 85% of initial level
Pricing date:	May 3
Settlement date:	May 8
Agent:	RBC Capital Markets, LLC
Fees:	1%, used for selling concessions
Cusip:	78008T6P4

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