New Issue: RBC prices $11.44 million one-year Stars linked to JPMorgan stock

By Jennifer Chiou

New York, Dec. 30 - Royal Bank of Canada priced $11,438,710 of 0% Strategic Accelerated Redemption Securities due Jan. 5, 2015 linked to the common stock of JPMorgan Chase & Co., according to a 424B2 filing with the Securities and Exchange Commission.

If the stock closes at or above its initial price on one of three observation dates, the notes will be called at par of $10 plus an annualized call premium of 16.07%. The observation dates are June 20, 2014, Sept. 19, 2014 and Dec. 26, 2014.

If the notes are not called, investors will have full exposure to any losses.

BofA Merrill Lynch is the agent.

Issuer:	Royal Bank of Canada
Issue:	Strategic Accelerated Redemption Securities
Underlying stock:	JPMorgan Inc. (NYSE: JPM)
Amount:	$11,438,710
Maturity:	Jan. 5, 2015
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Exposure to losses
Call:	At par plus 16.07% per year if share price closes at or above its initial price on June 20, 2014, Sept. 19, 2014 and Dec. 26, 2014
Initial price:	$58.24
Pricing date:	Dec. 23
Settlement date:	Dec. 31
Agent:	BofA Merrill Lynch
Fees:	1.25%
Cusip:	78011D526

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