New Issue: RBC prices $15.17 million Stars linked to S&P 500 via BofA

New York, Nov. 27 - Royal Bank of Canada priced $15.17 million of 0% Strategic Accelerated Redemption Securities due Dec. 12, 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 7.28%. The call dates are May 23, 2014, Aug. 22, 2014 and Dec. 5, 2014.

If the notes are not called, the payout at maturity will be par plus the index return with full exposure to losses.

Issuer:	Royal Bank of Canada
Issue:	Strategic Accelerated Redemption Securities
Underlying index:	S&P 500
Amount:	$15,170,880
Maturity:	Dec. 12, 2014
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus index return with full exposure to losses
Call:	At par plus 7.28% per year if index closes at or above initial level on May 23, 2014, Aug. 22, 2014 and Dec. 5, 2014
Initial index level:	1,802.75
Pricing date:	Nov. 26
Settlement date:	Dec. 3
Underwriter:	BofA Merrill Lynch
Fees:	1.25%
Cusip:	78011D575

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