New Issue: RBC prices $1.1 million 13% reverse convertibles linked to United Continental

New York, Oct. 2 - Royal Bank of Canada priced $1.1 million of 13% reverse convertible notes due Dec. 31, 2014 linked to United Continental Holdings Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless United Continental shares fall below the protection price of $37.43, 80% of the initial price of $46.79, during the life of the notes and finish below the initial price in which case the payout will be United Continental shares equal to $1,000 principal amount divided by the initial price.

RBC Capital Markets Corp. is the agent.

Issuer:	Royal Bank of Canada
Issue:	Reverse convertible notes
Underlying stock:	United Continental Holdings Inc. (Symbol: UAL)
Amount:	$1.1 million
Maturity:	Dec. 31, 2014
Coupon:	13%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless United Continental shares fall below the protection price of $37.43, 80% of the initial price, and finish below the initial price, in which case United Continental shares equal to $1,000 principal amount divided by the initial price
Initial price:	$46.79
Protection price:	$37.43, 80% of $46.79
Pricing date:	Sept. 30
Settlement date:	Oct. 3
Agent:	RBC Capital Markets Corp.
Fees:	1.25%
Cusip:	78010U3U9

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