RBC plans buffered bullish enhanced return notes on S&P MidCap 400

By Susanna Moon

Chicago, June 22 - Royal Bank of Canada plans to price 0% buffered bullish enhanced return notes due Jan. 12, 2012 based on the performance of the S&P MidCap 400 index, according to an FWP 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 13% to 17%. The exact cap will be set at pricing.

Investors will receive par if the index falls by 15% or less and will be exposed to any decline beyond 15%.

The notes will price on July 9 and settle on July 14.

RBC Capital Markets Corp. is the underwriter.

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