New Issue: RBC prices $2.56 million buffered bullish enhanced return notes on iShares MSCI EM

By Marisa Wong

Madison, Wis., Aug. 15 - Royal Bank of Canada priced $2.56 million of 0% buffered bullish enhanced return notes due Nov. 19, 2014 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 150% of any increase in the fund, subject to a maximum return of 15.75%.

Investors will receive par if the fund declines by 10% or less and will lose 1.1111% for every 1% that it declines beyond the 10% buffer.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Buffered bullish enhanced return notes
Underlying fund:	iShares MSCI Emerging Markets index fund
Amount:	$2,564,000
Maturity:	Nov. 19, 2014
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 1.5 times any fund gain, capped at 15.75%; par if index falls by up to 10%; 1.1111% loss for every 1% drop beyond 10%
Initial price:	$40.10
Buffer level:	$36.09, 90% of initial price
Pricing date:	Aug. 14
Settlement date:	Aug. 19
Agent:	RBC Capital Markets, LLC
Fees:	0.25%
Cusip:	78010UAR8

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