New Issue: RBC prices $19.23 million Stars linked to S&P 500 index via BofA

By Jennifer Chiou

New York, Oct. 15 - Royal Bank of Canada priced $19,226,700 of 0% Strategic Accelerated Redemption Securities due Oct. 31, 2014 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

BofA Merrill Lynch is the agent.

If the index closes at or above its initial level on any observation date, the notes will be called at par of $10 plus an annualized call premium of 9.5%. The call dates are April 17, 2014, July 11, 2014, and Oct. 24, 2014.

If the notes are not called, investors will share in any losses.

Issuer:	Royal Bank of Canada
Issue:	Strategic Accelerated Redemption Securities
Underlying index:	S&P 500
Amount:	$19,226,700
Maturity:	Oct. 31, 2014
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Exposure to any index decline
Call:	At par plus 9.5% per year if index closes at or above initial level on April 17, 2014, July 11, 2014, and Oct. 24, 2014
Initial index level:	1,692.56
Pricing date:	Oct. 10
Settlement date:	Oct. 18
Underwriter:	BofA Merrill Lynch
Fees:	1.25%
Cusip:	78011D625

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