RBC plans 8% six-month reverse convertibles linked to Freeport-McMoRan

By Susanna Moon

Chicago, Oct. 4 - Royal Bank of Canada plans to price 8% annualized reverse convertible notes due April 16, 2014 linked to Freeport-McMoRan Copper & Gold In. shares, according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The payout at maturity will be par unless Freeport-McMoRan stock falls below the 80% barrier level during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Freeport-McMoRan shares equal to $1,000 divided by the initial share price or, at RBC's option, the cash value.

RBC Capital Markets LLC is the agent.

The notes will price on Oct. 11 and settle on Oct. 17.

The Cusip number is 78010UGC5.

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