New Issue: RBC prices $2.58 million 9% callable reverse convertibles on Facebook, Microsoft

By Marisa Wong

Madison, Wis., April 21 - Royal Bank of Canada priced $2.58 million of 9% callable reverse convertible notes due Jan. 30, 2015 linked to the worst performing of two equity securities, Facebook, Inc. and Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable quarterly.

The payout at maturity will be par in cash unless either stock closes below its barrier price, 55% of its initial price, on any day during the life of the notes and finishes below its initial price, in which case the payout will be a number of shares of the worst-performing stock equal to $1,000 principal amount divided by the initial price.

The notes are callable at par on Oct. 16.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Callable reverse convertible notes
Underlying stocks:	Facebook, Inc. (Symbol: FB) and Microsoft Corp. (Symbol: MSFT)
Amount:	$2.58 million
Maturity:	Jan. 30, 2015
Coupon:	9% per year, payable quarterly
Price:	Par
Payout at maturity:	Par in cash unless either stock closes below its barrier price on any day during life of notes and finishes below its initial price, in which case number of shares of worst-performing stock equal to $1,000 divided by initial price
Call option:	At par on Oct. 16
Initial prices:	$59.72 for Facebook, $40.40 for Microsoft
Barrier prices:	$32.85 for Facebook, $22.22 for Microsoft; 55% of initial prices
Pricing date:	April 16
Settlement date:	April 30
Agent:	RBC Capital Markets, LLC
Fees:	None
Cusip:	78010UWX1

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