New Issue: RBC prices $3.2 million step performance notes linked to Dow

By Angela McDaniels

Tacoma, Wash., Oct. 31 - Royal Bank of Canada priced $3.2 million of 0% step performance securities due Oct. 31, 2013 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is zero or positive, the payout at maturity will be par of $10 plus the greater of the index return and 20.5%. Investors will be fully exposed to any decline in the index.

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

Issuer:	Royal Bank of Canada
Issue:	Step performance securities
Underlying index:	Dow Jones industrial average
Amount:	$3,204,760
Maturity:	Oct. 31, 2013
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If index return is zero or positive, par plus greater of index return and 20.5%; full exposure to any index decline
Initial index level:	12,208.55
Pricing date:	Oct. 27
Settlement date:	Oct. 31
Agents:	UBS Financial Services Inc. and RBC Capital Markets, LLC
Fees:	2%
Cusip:	78010W384

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