RBC plans to price buffered bullish notes linked to S&P 500 index

By Marisa Wong

Madison, Wis., July 30 - Royal Bank of Canada plans to price 0% buffered bullish notes due Aug. 20, 2015 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par plus any gain in the index, up to a maximum return of 56.5% to 61.5%. The exact cap will be set at pricing.

Investors will receive par if the index falls by 20% or less and will be exposed to any decline beyond 20%.

The notes (Cusip 78008KEJ8) will price on Aug. 16 and settle on Aug. 19.

RBC Capital Markets Corp. is the underwriter.

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