New Issue: RBC sells $811,400 contingent return optimization notes on S&P 500

By Marisa Wong

Madison, Wis., Dec. 29 – Royal Bank of Canada priced $811,400 of 0% contingent return optimization securities due Dec. 30, 2016 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes at or above the 85% trigger level, the payout at maturity will be par of $10 plus the greater of the 6% contingent return and any index gain, up to a maximum return of 40%.

Otherwise, investors will be fully exposed to any losses.

UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.

Issuer:	Royal Bank of Canada
Issue:	Contingent return optimization securities
Underlying index:	S&P 500
Amount:	$811,400
Maturity:	Dec. 30, 2016
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus greater of 6% and any index gain, capped at 40%, if index finishes at or above trigger level; otherwise, full exposure to any losses
Initial level:	2,088.77
Trigger level:	1,775.45, 85% of initial level
Pricing date:	Dec. 26
Settlement date:	Dec. 31
Agents:	UBS Financial Services Inc. and RBC Capital Markets, LLC
Fees:	None
Cusip:	78011Y777

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