New issue: RBC sells $1.02 million buffered bullish digital notes tied to S&P 500

By Marisa Wong

Madison, Wis., Aug. 24 - Royal Bank of Canada priced $1.02 million of 0% buffered bullish digital notes due Aug. 27, 2013 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final index level is greater than the initial level, the payout at maturity will be par plus a digital coupon of 18%.

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

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Buffered bullish digital notes
Underlying index:	S&P 500
Amount:	$1,015,000
Maturity:	Aug. 27, 2013
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 18% if index gains; par if index falls by 10% or less; exposure to losses beyond 10%
Initial index level:	1,123.82
Buffer level:	1,011.44, 90% of initial level
Pricing date:	Aug. 22
Settlement date:	Aug. 25
Agent:	RBC Capital Markets, LLC
Fees:	2%
Cusip:	78008TRE6

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