New Issue: RBC prices $867,000 trigger performance notes linked to S&P 500

By Marisa Wong

Madison, Wis., May 28 - Royal Bank of Canada priced $867,000 of 0% trigger performance securities due May 31, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par of $10 plus 124.3% of the index return. If the index return is zero or negative and the final index level is at least 75% of the initial index level, investors will receive par. If the final index level is less than 75% of the initial index level, investors will be fully exposed to the decline from the initial level.

UBS Financial Services Inc. and RBC Capital Markets, LLC are the underwriters.

Issuer:	Royal Bank of Canada
Issue:	Trigger performance securities
Underlying index:	S&P 500
Amount:	$867,000
Maturity:	May 31, 2017
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 124.3% of any increase in index; par if index falls by 25% or less; full exposure to decline from initial level if index falls beyond 25%
Initial index level:	1,911.91
Trigger level:	1,433.93, 75% of initial level
Pricing date:	May 27
Settlement date:	May 30
Underwriters:	UBS Financial Services Inc. and RBC Capital Markets, LLC
Fees:	None
Cusip:	78011Q295

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