New Issue: RBC prices $3.57 million 10.2% airbag autocallables on First Solar

By Susanna Moon

Chicago, Dec. 31 - Royal Bank of Canada priced $3.57 million of 10.2% airbag autocallable yield optimization notes due Dec. 31, 2014 linked to First Solar Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The notes will be called at par if First Solar 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 First Solar shares equal to $1,000 divided by the conversion price. The conversion price is 70% of the initial share price.

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

Issuer:	Royal Bank of Canada
Issue:	Airbag autocallable yield optimization notes
Underlying stock:	First Solar Inc. (Symbol: FSLR)
Amount:	$3,565,000
Maturity:	Dec. 31, 2014
Coupon:	10.2%, payable monthly
Price:	Par
Payout at maturity:	If final price is less than conversion price, a number of First Solar shares equal to $1,000 divided by the conversion price; otherwise, par
Call:	At par if First Solar shares close at or above initial share price on any quarterly observation date
Initial price:	$55.26
Conversion price:	$38.68, 70% of initial price
Pricing date:	Dec. 27
Settlement date:	Dec. 31
Underwriters:	UBS Financial Services Inc. and RBC Capital Markets, LLC
Fees:	1.5%
Cusip:	78010Y372

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