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RBC to price 11.25% reverse convertibles linked to Amazon.com
New York, Aug. 19 - Royal Bank of Canada plans to price 11.25% reverse convertible notes due Feb. 29, 2012 linked to Amazon.com, Inc. shares, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Amazon.com shares fall below 80% of the initial price during the life of the notes and finish below the initial price, in which case the payout will be a number of Amazon.com shares equal to $1,000 divided by the initial price.
The notes are expected to price on Aug. 26 and settle on Aug. 31.
RBC Capital Markets Corp. is the agent.
The Cusip number is 78008TQC1.
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