New Issue: RBC prices $924,000 buffered bullish notes on iShares MSCI EM fund

By Jennifer Chiou

New York, April 19 - Royal Bank of Canada priced $924,000 of 0% buffered bullish return notes due Oct. 18, 2012 linked to the iShares MSCI Emerging Markets index fund, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus any fund gain, subject to a maximum of 21%.

Investors will receive par if the fund falls by up to 15% and will be exposed to any decline beyond 15%.

RBC Capital Markets Corp. is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Buffered bullish return notes
Underlying fund:	iShares MSCI Emerging Markets
Amount:	$924,000
Maturity:	Oct. 18, 2012
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus any fund gain, capped at 21%; exposure to losses beyond 15%
Initial level:	$49.14
Buffer level:	$41.77, 85% of initial level
Pricing date:	April 15
Settlement date:	April 20
Underwriter:	RBC Capital Markets Corp.
Fees:	None
Cusip:	78008K3V3

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