New Issue: RBC prices $8.35 million return enhanced notes due 2014 tied to S&P 500

By Susanna Moon

Chicago, April 16 - Royal Bank of Canada priced $8.35 million of 0% return enhanced notes due April 30, 2014 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 double any gain in the index, up to a maximum return of 16.1%.

Investors will be exposed to any losses.

RBC Capital Markets, LLC is the agent, and J.P. Morgan Securities LLC is the dealer.

Issuer:	Royal Bank of Canada
Issue:	Return enhanced notes
Underlying index:	S&P 500
Amount:	$8.35 million
Maturity:	April 30, 2014
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 200% of any index gain, capped at 16.1%; exposure to any losses
Initial level:	1,588.85
Pricing date:	April 12
Settlement date:	April 17
Agent:	RBC Capital Markets, LLC with J.P. Morgan Securities LLC as dealer
Fees:	3%
Cusip:	78008SN69

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