New Issue: RBC prices $26.63 million leveraged buffered notes linked to S&P 500

By Angela McDaniels

Tacoma, Wash., March 23 – Royal Bank of Canada priced $26.63 million of 0% leveraged buffered notes due Oct. 24, 2016 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 plus 140% of the gain, subject to a maximum settlement amount of $1,171.50 for each $1,000 principal amount. Investors will receive par if the index falls by 10% or less and lose 1.1111% for every 1% decline in the index beyond 10%.

RBC Capital Markets, LLC is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Leveraged buffered notes
Underlying index:	S&P 500
Amount:	$26,631,000
Maturity:	Oct. 24, 2016
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus 140% of gain, subject to 17.15% maximum return; par if index falls by up to 10%; 1.1111% loss for every 1% decline in index beyond 10%
Initial index level:	2,089.27
Pricing date:	March 19
Settlement date:	March 26
Underwriter:	RBC Capital Markets, LLC
Fees:	None
Cusip:	78012KCP0

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