New Issue: RBC prices $5.7 million 8.03% airbag autocallables linked to Valero

By Angela McDaniels

Tacoma, Wash., April 16 - Royal Bank of Canada priced $5.7 million of 8.03% airbag autocallable yield optimization notes due April 21, 2014 linked to the common stock of Valero Energy Corp., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The notes will be automatically called at par if Valero shares close at or above the initial share price on July 16, 2013, Oct. 16, 2013, Jan. 16, 2014 or April 14, 2014.

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 a number of Valero shares equal to $1,000 divided by the conversion price. The conversion price is 80% of the initial share price.

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

Issuer:	Royal Bank of Canada
Issue:	Airbag autocallable yield optimization notes
Underlying stock:	Valero Energy Corp. (Symbol: VLO)
Amount:	$5,701,000
Maturity:	April 21, 2014
Coupon:	8.03%, payable monthly
Price:	Par
Payout at maturity:	If final share price is less than conversion price, number of Valero shares equal to $1,000 divided by conversion price; otherwise, par
Call:	Automatically at par if Valero shares close at or above initial share price on July 16, 2013, Oct. 16, 2013, Jan. 16, 2014 or April 14, 2014
Initial share price:	$40.91
Conversion price:	$32.73, 80% of initial share price
Pricing date:	April 12
Settlement date:	April 18
Underwriters:	UBS Financial Services Inc. and RBC Capital Markets, LLC
Fees:	1.5%
Cusip:	78008D422

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