New Issue: RBC prices $5.3 million Stars linked to S&P 500 index

By Marisa Wong

Morgantown, W.Va., Nov. 9 – Royal Bank of Canada priced $5.3 million of 0% Strategic Accelerated Redemption Securities due Nov. 14, 2016 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par of $10 plus an annualized call premium of 8.1% if the index closes at or above its initial level on April 15, 2016, July 15, 2016 or Nov. 4, 2016.

If the notes are not called, investors will have one-to-one exposure to the index’s decline at maturity.

BofA Merrill Lynch is the agent.

Issuer:	Royal Bank of Canada
Issue:	Strategic Accelerated Redemption Securities
Underlying index:	S&P 500
Amount:	$5,295,260
Maturity:	Nov. 14, 2016
Coupon:	0%
Price:	Par of $10
Payout at maturity:	One-to-one exposure to index’s decline
Call:	At par plus 8.1% per year if index closes at or above initial level on April 15, 2016, July 15, 2016 or Nov. 4, 2016
Initial index level:	2,089.41
Pricing date:	Oct. 29
Settlement date:	Nov. 5
Agent:	BofA Merrill Lynch
Fees:	1.25%
Cusip:	78013G600

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