New Issue: RBC sells $3.4 million buffered bullish digital notes linked to Russell 2000

By Susanna Moon

Chicago, Dec. 22 - Royal Bank of Canada priced $3.4 million of 0% buffered bullish digital notes due June 30, 2011 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes above its initial level, the payout at maturity will be par plus a digital coupon of 12%.

Investors will receive par if the index falls 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 digital notes
Underlying index:	Russell 2000
Amount:	$3,396,000
Maturity:	June 30, 2011
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus digital coupon of 12% if index gains; par if index falls by 15% or less; exposure to any decline beyond 15%
Initial level:	630.98
Buffer level:	536.33, 85% of the initial level
Pricing date:	Dec. 23
Settlement date:	Dec. 31
Underwriter:	RBC Capital Markets Corp.
Fees:	2%

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