New Issue: RBC prices $3.21 million airbag yield optimization notes tied to Silver Wheaton

By Marisa Wong

Madison, Wis., Dec. 3 - Royal Bank of Canada priced $3.21 million of 7.21% annualized airbag yield optimization notes due May 30, 2014 linked to the common stock of Silver Wheaton Corp., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of Silver Wheaton shares equal to $1,000 divided by the conversion price. The conversion price is 80% of the initial share price.

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

Issuer:	Royal Bank of Canada
Issue:	Airbag yield optimization notes
Underlying stock:	Silver Wheaton Corp. (Symbol: SLW)
Amount:	$3,209,000
Maturity:	May 30, 2014
Coupon:	7.21% annualized, payable monthly
Price:	Par
Payout at maturity:	If final share price is less than conversion price, number of Silver Wheaton shares equal to $1,000 divided by conversion price; otherwise, par
Initial share price:	$20.41
Conversion price:	$16.33, 80% of initial price
Pricing date:	Nov. 26
Settlement date:	Nov. 29
Agents:	UBS Financial Services Inc. and RBC Capital Markets, LLC
Fees:	1%
Cusip:	78010Y133

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