New Issue: RBC prices $728,000 buffered bullish return notes linked to S&P 500

By Susanna Moon

Chicago, Sept. 3 - Royal Bank of Canada priced $728,000 of 0% buffered bullish return notes due Sept. 3, 2015 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 any index gain, up to a maximum return of 10.9%.

Investors will receive par if the index falls by up to 20% and will lose 1% for every 1% decline beyond 20%.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Buffered bullish return notes
Underlying index:	S&P 500
Amount:	$728,000
Maturity:	Sept. 3, 2015
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus any index gain, capped at 10.9%; par if index falls by up to 20%; exposure to any losses beyond 20%
Initial index level:	1,638.17
Buffer level:	1,310.54, or 80% of initial level
Pricing date:	Aug. 29
Settlement date:	Sept. 4
Agent:	RBC Capital Markets, LLC
Fees:	None
Cusip:	78010UAU1

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