New Issue: RBC prices $1.47 million airbag return optimization notes on Euro Stoxx

By Jennifer Chiou

New York, March 3 - Royal Bank of Canada priced $1.47 million of 0% airbag return optimization securities due Feb. 28, 2017 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index's return is positive, the payout at maturity will be par plus 150% of the index's return, subject to a maximum return of 47.25%. Investors will receive par if the index declines by 20% or less and will lose 1.25% for every 1% that the index declines beyond 20%.

UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.

Issuer:	Royal Bank of Canada
Issue:	Airbag return optimization securities
Underlying index:	Euro Stoxx 50
Amount:	$1.47 million
Maturity:	Feb. 28, 2017
Coupon:	0%
Price:	Par
Payout at maturity:	If index's return is positive, par plus 150% of index's return, capped at 47.25%; par if index declines by 20% or less; 1.25% loss for every 1% that index declines beyond 20%
Initial level:	3,148.19
Pricing date:	Feb. 26
Settlement date:	Feb. 28
Agents:	UBS Financial Services Inc. and RBC Capital Markets, LLC
Fees:	None
Cusip:	78010Y562

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