New Issue: RBC prices $2 million enhanced return notes linked to S&P 500

By Angela McDaniels

Tacoma, Wash., Dec. 30 - Royal Bank of Canada priced $2 million of 0% buffered bullish enhanced return notes due Dec. 30, 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 125% of any index gain, up to a maximum return of 30.875%. Investors will receive par if the index falls by up to 12% and will lose 1.136% for every 1% that it declines beyond 12%.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Buffered bullish enhanced return notes
Underlying index:	S&P 500
Amount:	$2 million
Maturity:	Dec. 30, 2016
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 125% of any index gain, capped at 30.875%; par if index falls by up to 12%; 1.136% loss for every 1% decline beyond 12%
Initial index level:	1,842.02
Buffer level:	1,620.98, 88% of initial level
Pricing date:	Dec. 26
Settlement date:	Dec. 31
Agent:	RBC Capital Markets, LLC
Fees:	2.75%
Cusip:	78010UMJ3

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