New Issue: RBC prices $762,000 buffered bullish notes linked to S&P GSCI - Excess Return

By Angela McDaniels

Tacoma, Wash., Aug. 31 - Royal Bank of Canada priced $762,000 of 0% buffered bullish commodity-linked notes due Feb. 28, 2013 linked to the S&P GSCI - Excess Return index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus any increase in the index, subject to a maximum return of 80%. Investors will receive par if the index declines by 15% or less and will be exposed to any decline beyond 15%.

RBC Capital Markets Corp. is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Buffered bullish commodity-linked notes
Underlying index:	S&P GSCI - Excess Return index
Amount:	$762,000
Maturity:	Feb. 28, 2013
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus any index gain, up to maximum return of 80%; par if index falls by 15% or less; exposure to any decline beyond 15%
Initial index level:	415.6479
Pricing date:	Aug. 27
Settlement date:	Aug. 31
Underwriter:	RBC Capital Markets Corp.
Fees:	2.875%

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