New Issue: RBC sells $11.17 million autocallable access notes on S&P 500 via Wells

By Marisa Wong

Madison, Wis., Dec. 30 - Royal Bank of Canada priced $11.17 million of 0% autocallable access securities with fixed percentage buffered downside due Jan. 3, 2014 linked to the S&P 500 index via Wells Fargo Securities, LLC, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be automatically called at par plus a call premium if the index closes at or above the initial level on any of three call dates. The premium is 8.75% for the first call date of Jan. 3, 2013, 13.125% for the second call date of July 3, 2013 and 17.5% for the final call date of Dec. 26, 2013.

If the notes are not called and the final index level is at least 90% of the initial level, the payout at maturity will be par. Investors will lose 1% for every 1% index decline beyond the 10% buffer.

Issuer:	Royal Bank of Canada
Issue:	Autocallable access securities with fixed percentage buffered downside
Underling index:	S&P 500 index
Amount:	$11,168,000
Maturity:	Jan. 3, 2014
Coupon:	0%
Price:	Par
Payout at maturity:	Par if index has not declined by more than 10%; otherwise, 1% loss for every 1% decline beyond the buffer
Call:	At par plus premium if index closes at or above initial level on any of three call dates; premium is 8.75% on Jan. 3, 2013, 13.125% on July 3, 2013 and 17.5% on Dec. 26, 2013
Initial level:	1,249.64
Buffer level:	1,124.68, 90% of initial level
Pricing date:	Dec. 28
Settlement date:	Jan. 3
Underwriter:	Wells Fargo Securities, LLC
Fees:	1.75%
Cusip:	78008TZV9

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