New Issue: RBC prices $24.28 million Accelerated Return Notes linked to S&P MidCap 400

By Angela McDaniels

Tacoma, Wash., March 30 – Royal Bank of Canada priced $24.28 million of 0% Accelerated Return Notes due May 27, 2016 linked to the S&P MidCap 400 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final index level is greater than the initial index level, the payout at maturity will be par of $10 plus 300% of the index return, subject to a cap of 10.35%. If the final index level is less than the initial index level, investors will be fully exposed to the decline.

BofA Merrill Lynch is the agent.

Issuer:	Royal Bank of Canada
Issue:	Accelerated Return Notes
Underlying index:	S&P MidCap 400
Amount:	$24,282,750
Maturity:	May 27, 2016
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 300% of any index gain, up to 10.35% maximum return; exposure to any index decline
Initial index level:	1,501.81
Final index level: Average of index’s closing levels on five trading days ending March 24, 2016
Pricing date:	March 26
Settlement date:	April 2
Underwriter:	BofA Merrill Lynch
Fees:	2%
Cusip:	78011D260

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