RBC plans buffered autocallable optimization notes linked to S&P 500

By Susanna Moon

Chicago, July 24 - Royal Bank of Canada plans to price buffered autocallable optimization securities due Aug. 2, 2013 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

If the index closes at or above the initial level on any quarterly observation date beginning Jan. 28, 2013, the notes will be called at par plus an annualized call return of about 8%. The exact call return will be set at pricing.

If the notes are not called and the index falls by up to 5%, the payout at maturity will be par.

Otherwise, investors will lose 1% for each 1% decline beyond the 5% buffer.

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

The notes will price on July 26 and settle on July 31.

The Cusip number is 78008D729.

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