New Issue: RBC prices $8.74 million airbag return optimization notes on Euro Stoxx

By Marisa Wong

Madison, Wis., Sept. 30 - Royal Bank of Canada priced $8.74 million of 0% airbag return optimization securities due Sept. 30, 2016 linked to the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.

If the index's return is positive, the payout at maturity will be par plus 150% of the index's return, subject to a maximum return of 37.22%. Investors will receive par if the index declines by 20% or less and will lose 1.25% for every 1% that the index declines beyond 20%.

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

Issuer:	Royal Bank of Canada
Issue:	Airbag return optimization securities
Underlying index:	Euro Stoxx 50
Amount:	$8.74 million
Maturity:	Sept. 30, 2016
Coupon:	0%
Price:	Par of $1,000
Payout at maturity:	If index's return is positive, par plus 150% of index's return, capped at 37.22%; par if index declines by 20% or less; 1.25% loss for every 1% that index declines beyond 20%
Initial level:	2,922.99
Pricing date:	Sept. 26
Settlement date:	Sept. 30
Agents:	UBS Financial Services Inc. and RBC Capital Markets, LLC
Fees:	2.5%
Cusip:	78009Q356

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