New Issue: RBC prices $16.77 million autocallable access notes linked to S&P 500

By Angela McDaniels

Tacoma, Wash., Oct. 31 - Royal Bank of Canada priced $16.77 million of 0% autocallable access securities with fixed percentage buffered downside due Nov. 1, 2013 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

Wells Fargo Securities, LLC is the underwriter.

The notes will be automatically called at par plus a premium of 8% per year if the index closes at or above the initial index level on Nov. 1, 2012, May 1, 2013 or Oct. 25, 2013.

If the notes are not called and the index's final level is at least 90% of the initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the index declines beyond 10%.

Issuer:	Royal Bank of Canada
Issue:	Autocallable access securities with fixed percentage buffered downside
Underlying index:	S&P 500
Amount:	$16,768,000
Maturity:	Nov. 1, 2013
Coupon:	0%
Price:	Par
Payout at maturity:	If index's final level is at least 90% of initial level, par; otherwise, 1% loss for every 1% that index declines beyond 10%
Call:	Automatically at par plus 8% per year if index closes at or above initial level on Nov. 1, 2012, May 1, 2013 or Oct. 25, 2013
Initial index level:	1,284.59
Pricing date:	Oct. 27
Settlement date:	Nov. 1
Underwriter:	Wells Fargo Securities, LLC
Fees:	2%
Cusip:	78008TVU5

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