New Issue: RBC prices $1.42 million autocallable access securities linked to iShares Russell

By Toni Weeks

San Diego, Aug. 1 - Royal Bank of Canada priced $1.42 million of 0% autocallable access securities with fixed percentage buffered downside due Aug. 4, 2014 linked to the iShares Russell 2000 index fund, 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 fund closes at or above the initial share price on any of three call dates. The premium is 8% for the first call date of Aug. 2, 2013, 12% for the second call date of Feb. 3, 2014 and 16% for the final call date of July 28, 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. Otherwise, investors will lose 1% for every 1% that the share price declines beyond 10%.

Wells Fargo Securities, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Autocallable access securities
Underlying fund:	iShares Russell 2000 index fund
Amount:	$1,417,000
Maturity:	Aug. 4, 2014
Coupon:	0%
Price:	Par
Payout at maturity:	If final share price is at least 90% of initial price, par; otherwise, 1% loss for every 1% decline beyond 10%
Initial price:	$79.04
Buffer price:	$71.14, 90% of initial price
Call:	If fund closes at or above initial share price on any of three call dates, par plus premium, which is 8% for Aug. 2, 2013, 12% for Feb. 3, 2014 and 16% for July 28, 2014 call dates
Pricing date:	July 30
Settlement date:	Aug. 2
Agent:	Wells Fargo Securities, LLC
Fees:	1.75%
Cusip:	78008SDP8

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