New Issue: RBC prices $505,000 buffered bullish notes on SPDR S&P Midcap 400 ETF

By Marisa Wong

Madison, Wis., Feb. 2 - Royal Bank of Canada priced $505,000 of 0% buffered bullish enhanced return notes due Aug. 5, 2013 linked to the SPDR S&P Midcap 400 ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus two times any gain in the trust, up to a maximum return of 18.5%.

Investors will receive par if the trust falls by up to 10% and will be exposed to any decline beyond 10%.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Buffered bullish enhanced return notes
Underlying fund:	SPDR S&P Midcap 400 ETF trust
Amount:	$505,000
Maturity:	Aug. 5, 2013
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus double any fund gain, capped at 18.5%; par if fund drops by up to 10%; exposure to losses beyond 10%
Initial price:	$170.00
Buffer level:	$153.00, 90% of initial price
Pricing date:	Jan. 31
Settlement date:	Feb. 3
Agent:	RBC Capital Markets, LLC
Fees:	None
Cusip:	78008TK94

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