RBC plans 7%-9.5% airbag yield optimization notes on Freeport-McMoRan

By Marisa Wong

Madison, Wis., Nov. 1 - Royal Bank of Canada plans to price 7% to 9.5% annualized airbag yield optimization notes due May 11, 2012 linked to the common stock of Freeport-McMoRan Copper & Gold Inc., according to an FWP filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par in cash unless the final share price is less than the conversion price, in which case the payout will be a number of Freeport-McMoRan shares equal to $1,000 divided by the conversion price. The conversion price is 75% of the initial share price.

The notes (Cusip: 78010W525) are expected to price on Nov. 4 and settle on Nov. 9.

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

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