New Issue: RBC prices $1.13 million one-year buffered return notes on Russell 2000

By Susanna Moon

Chicago, April 23 - Royal Bank of Canada priced $1.13 million of 0% buffered return notes due April 24, 2014 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus any index gain, up to a maximum return of 12.75%.

Investors will receive par if the index falls by 10% or less and will lose 1.1111% for every 1% decline beyond 10%.

RBC Capital Markets, LLC is the underwriter, and J.P. Morgan Securities LLC is the placement agent.

Issuer:	Royal Bank of Canada
Issue:	Buffered return notes
Underlying index:	Russell 2000
Amount:	$1,125,000
Maturity:	April 24, 2014
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus any index gain, capped at 12.75%; par if index declines by 10% or less; 1.1111% loss for every 1% drop beyond 10%
Initial index level:	912.50
Pricing date:	April 19
Settlement date:	April 26
Underwriter:	RBC Capital Markets, LLC
Placement agent:	J.P. Morgan Securities LLC
Fees:	0.7%
Cusip:	78008SS64

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