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RBC to price 15.5% reverse convertibles linked to Green Mountain
New York, March 20 - Royal Bank of Canada plans to price 15.5% reverse convertible notes due June 28, 2013 linked to Green Mountain Coffee Roasters, Inc. shares, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Green Mountain 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 Green Mountain shares equal to $1,000 divided by the initial price.
The notes are expected to price on March 26 and settle on March 28.
RBC Capital Markets Corp. is the agent.
The Cusip number is 78008SF68.
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