New Issue: RBC prices $2.73 million bullish buffered enhanced return notes linked to S&P 500

By Angela McDaniels

Tacoma, Wash., June 23 - Royal Bank of Canada priced $2.73 million of 0% bullish buffered enhanced return notes due July 24, 2009 linked to the S&P 500 index, according to a 424B5 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 200% on any index gain, subject to a maximum return of 19.3%. Investors will receive par if the index declines by 5% or less and will lose 1.05263% for every 1% decline beyond 5%.

RBC Capital Markets Corp. is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Bullish buffered enhanced return notes
Underlying index:	S&P 500
Amount:	$2,727,000
Maturity:	July 24, 2009
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 200% on any index gain, capped a maximum return of 19.3%; par if the index declines by 5% or less; 1.05263% loss for every 1% decline beyond 5%
Initial index level:	1,342.83
Pricing date:	June 19
Settlement date:	June 24
Underwriter:	RBC Capital Markets Corp.
Fees:	0.1%

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