New issue: RBC sells $780,000 two-year 0% buffered bullish notes tied to S&P 500

By Toni Weeks

San Diego, March 21 - Royal Bank of Canada priced $780,000 of 0% buffered bullish enhanced return notes due March 21, 2013 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 125% of any index gain, up to a maximum return of $1,150 per $1,000 principal amount of notes.

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

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Buffered bullish enhanced return notes
Underlying index:	S&P 500
Amount:	$780,000
Maturity:	March 21, 2013
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 125% of any index gain, capped at 15%; exposure to losses beyond 20%
Initial index level:	1,273.72
Buffer level:	1,018.98, 80% of initial level
Pricing date:	March 17
Settlement date:	March 22
Agent:	RBC Capital Markets, LLC
Fees:	0.85%
Cusip:	78008KZ97

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