New Issue: RBC prices $2.94 million 8% airbag autocallables linked to Delta

By Devika Patel

Knoxville, Tenn., Dec. 31 – Royal Bank of Canada priced $2.94 million of 8% airbag autocallable yield optimization notes due Jan. 6, 2017 linked to Delta Air Lines, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The notes will be called at par if Delta 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 22.5530 Delta shares per $1,000 of notes. The conversion price is 85% of the initial share price.

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

Issuer:	Royal Bank of Canada
Issue:	Airbag autocallable yield optimization notes
Underlying stock:	Delta Air Lines, Inc. (Symbol: DAL)
Amount:	$2,942,000
Maturity:	Jan. 6, 2017
Coupon:	8%, payable monthly
Price:	Par
Payout at maturity:	Par unless final share price is less than conversion price, in which case 22.5530 Delta shares per $1,000 of notes
Call:	At par if Delta shares close at or above initial share price on any quarterly observation date
Initial share price:	$52.17
Conversion price:	$44.34, 85% of initial share price
Pricing date:	Dec. 29
Settlement date:	Dec. 31
Agents:	UBS Financial Services Inc. and RBC Capital Markets, LLC
Fees:	1.5%
Cusip:	78013C468

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