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RBC to price 19.5%-23.5% reverse convertibles linked to GameStop
By Angela McDaniels
Tacoma, Wash., Aug. 29 - Royal Bank of Canada plans to price 19.5% to 23.5% reverse convertible notes due March 15, 2013 linked to GameStop Corp. shares, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless GameStop 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 GameStop shares equal to $1,000 divided by the initial price.
The notes are expected to price Sept. 12 and settle Sept. 17.
RBC Capital Markets, LLC is the agent.
The Cusip number is 78008SHM1.
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