RBC plans bullish barrier enhanced return notes linked to S&P 500

By Jennifer Chiou

New York, June 22 - Royal Bank of Canada plans to price 0% bullish barrier enhanced return notes due July 17, 2014 linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus 107% to 111% of the index return. The exact leverage factor will be set at pricing.

If the index return is negative and the index never closes below 50% of its initial level during the life of the notes, the payout will be par.

If the index return is negative and the index has closed below 50% of its initial level during the life of the notes, the payout will be par plus the index return.

The notes (Cusip: 78008THW7) will price on July 12 and settle on July 15.

RBC Capital Markets, LLC is the underwriter.

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