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RBC to price 15.25% reverse convertibles linked to Deere
New York, Oct. 5 - Royal Bank of Canada plans to price 15.25% reverse convertible notes due Jan. 20, 2012 linked to Deere & Co. shares, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Deere shares fall below 75% 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 Deere shares equal to $1,000 divided by the initial price.
The notes are expected to price on Oct. 14 and settle on Oct. 19.
RBC Capital Markets Corp. is the agent.
The Cusip number is 78008TVG6.
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