RBC to price 6.6%-8.1% airbag autocallables linked to Facebook

By Angela McDaniels

Tacoma, Wash., May 20 - Royal Bank of Canada plans to price 6.6% to 8.1% airbag autocallable yield optimization notes due May 30, 2014 linked to the common stock of Facebook, Inc., according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly. The exact coupon will be set at pricing.

The notes will be called automatically at par if Facebook shares close at or above the initial share price on any quarterly observation date.

The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of Facebook shares equal to $1,000 divided by the conversion price. The conversion price will be 85% of the initial share price.

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

The notes will price May 22 and settle May 31.

The Cusip number is 78008Y624.

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