New Issue: RBC prices $2.57 million PLUS due 2017 linked to S&P 500 index

By Marisa Wong

Morgantown, W.Va., Jan. 21 – Royal Bank of Canada priced $2.57 million of 0% Performance Leveraged Upside Securities due April 21, 2017 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 of $10 plus 300% of any index gain, subject to a maximum payment of $12.08 per PLUS.

Investors will be fully exposed to any index decline.

RBC Capital Markets, LLC is the agent. Morgan Stanley Wealth Management is the distributor.

Issuer:	Royal Bank of Canada
Issue:	Performance Leveraged Upside Securities
Underlying index:	S&P 500
Amount:	$2,573,710
Maturity:	April 21, 2017
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus three times any index gain, up to a maximum return of 20.8%; full exposure to losses
Initial index level:	2,952.48
Pricing date:	Jan. 15
Settlement date:	Jan. 21
Agent:	RBC Capital Markets, LLC
Distribution:	Morgan Stanley Wealth Management
Fees:	2.25%
Cusip:	78013C559

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