New Issue: RBC prices $4.85 million buffered bullish enhanced return notes tied to S&P 500

By Marisa Wong

Madison, Wis., Dec. 6 - Royal Bank of Canada priced $4.85 million of 0% buffered bullish enhanced return notes due June 9, 2016 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 200% of any increase in the index, subject to a maximum return of 41%.

Investors will receive par if the index declines by 20% or less and will lose 1.25% for every 1% that it declines beyond the 20% buffer.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Buffered bullish enhanced return notes
Underlying index:	S&P 500
Amount:	$4,851,000
Maturity:	June 9, 2016
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus double any index gain, capped at 41%; par if index falls by up to 20%; 1.25% loss for every 1% drop beyond 20%
Initial level:	1,407.05
Buffer level:	1,125.64, 80% of initial level
Pricing date:	Dec. 4
Settlement date:	Dec. 7
Agent:	RBC Capital Markets, LLC
Fees:	1%
Cusip:	78008SSH0

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