New Issue: RBC prices $1.12 million 13.75% reverse convertibles linked to Tesla Motors

New York, June 30 – Royal Bank of Canada priced $1.116 million of 13.75% reverse convertible notes due Sept. 30, 2014 linked to Tesla Motors, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Tesla Motors shares fall below the protection price of $188.48, 80% of the initial price of $235.60, during the life of the notes and finish below the initial price in which case the payout will be Tesla Motors shares equal to $1,000 principal amount divided by the initial price.

RBC Capital Markets Corp. is the agent.

Issuer:	Royal Bank of Canada
Issue:	Reverse convertible notes
Underlying stock:	Tesla Motors, Inc. (Symbol: TSLA)
Amount:	$1.116 million
Maturity:	Sept. 30, 2014
Coupon:	13.75%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Tesla Motors shares fall below the protection price of $188.48, 80% of the initial price, and finish below the initial price, in which case Tesla Motors shares equal to $1,000 principal amount divided by the initial price
Initial price:	$235.60
Protection price:	$188.48, 80% of $235.60
Pricing date:	June 26
Settlement date:	June 30
Agent:	RBC Capital Markets Corp.
Fees:	1.75%
Cusip:	78010UF28

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