New Issue: RBC prices $2.42 million autocallable access securities on iShares Russell

By Jennifer Chiou

New York, April 2 - Royal Bank of Canada priced $2.42 million of 0% autocallable access securities with fixed percentage buffered downside due April 3, 2014 linked to the iShares Russell 2000 index fund 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 share price is greater than or equal to the initial price on any of three call dates. The premium is 8% for the first call date of April 3, 2013, 12% for the second call date of Oct. 3, 2013 and 16% for the final call date of March 27, 2014.

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

Wells Fargo Securities, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Autocallable access securities
Underlying fund:	iShares Russell 2000 index fund
Amount:	$2,415,000
Maturity:	April 3, 2014
Coupon:	0%
Price:	Par
Payout at maturity:	Par if fund return has not declined by more than 10%; otherwise, 1% loss for every 1% decline beyond buffer
Call:	At par plus premium if share price is at or above initial price on any of three call dates; premium is 8% on April 3, 2013, 12% on Oct. 3, 2013 and 16% on March 27, 2014
Initial price:	$83.08
Buffer level:	$74.77, 90% of initial price
Pricing date:	March 29
Settlement date:	April 3
Underwriter:	Wells Fargo Securities, LLC
Fees:	1.75%
Cusip:	78008TX58

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