Buffered enhanced return notes

Annual Return-4.35% 0.00% 9.36% Note Return -19.93% 0% 56.45% Investment Scenarios The examples set out above are included for illustrative purposes only and are not a prediction or guarantee of any gain or particular return of the Note The examples above assume that a Noteholder has purchased $100,000 of the Notes (1,000 Notes) and held the

Structured Notes Canada RBC Capital Markets designs and issues a range of structured note strategies to meet client investment objectives. We regularly issue strategies available to the investing public that complement equity and fixed income portfolios. Pricing Supplement Royal Bank of Canada is offering the Geared Buffered Enhanced Return Notes (the “Notes”) linked to the performance of the S&P 500 ® Index (the “Reference Asset”). The CUSIP number for the Notes is 78013XXE3. The Notes do not pay interest. Investments Buffered Return Enhanced Notes Linked to the S Buffered Return Enhanced Notes Linked to the S&P 500 ® Index due October 11, 2007 General The notes are designed for investors who seek a return of twice the appreciation of the S&P 500® Index up to a maximum total return on the notes of 12.80%* at maturity.

This report examines the role that BuOered Return Enhanced Notes (BRENs) and Return Enhanced Notes (RENs) can play in your portfolio. Topics of discussion include how BRENs can help you gain access to volatile asset classes with less risk, and how RENs can augment your returnsinamoderatelybullish,orrange-bound,market. 1. www.structuredproducts.org

Buffered Return Enhanced Notes Linked to the Nikkei 225 Index

With Buffered Notes, you can protect a portion of your core equity portfolio and invest for growth with confidence.1 1 Any return of principal and gains generated is subject to the credit risk of the issuer and terms of the offering documents, which could include participation rates, interim caps and various risks.

Buffer Guide The return of the Buffer Notes equals the return of the underlying multiplied by the Leverage Factor (5% x 300%) so you would receive $11.50 at maturity 1.