By Toni Weeks
San Diego, Oct. 23 - Royal Bank of Canada priced $2.99 million of 7.57% airbag autocallable yield optimization notes due Oct. 25, 2013 linked to the common stock of Halliburton Co., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be automatically called at par plus accrued interest if Halliburton stock closes at or above the initial share price on a quarterly observation date.
If the notes are not called, the payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of Halliburton shares equal to $1,000 divided by the conversion price. The conversion price will be 85% of the initial share price.
UBS Financial Services Inc. and RBC Capital Markets, LLC are the underwriters.
| Issuer: | Royal Bank of Canada
|
| Issue: | Airbag autocallable yield optimization notes
|
| Underlying stock: | Halliburton Co. (Symbol: HAL)
|
| Amount: | $2,988,000
|
| Maturity: | Oct. 25, 2013
|
| Coupon: | 7.57%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If final share price is less than conversion price, number of Halliburton shares equal to $1,000 divided by conversion price; otherwise, par
|
| Call: | At par plus the coupon if closing price is greater than or equal to initial price on any quarterly observation date beginning Jan. 23
|
| Initial share price: | $34.98
|
| Conversion price: | $29.73, 85% of initial share price
|
| Pricing date: | Oct. 19
|
| Settlement date: | Oct. 24
|
| Underwriters: | UBS Financial Services Inc. and RBC Capital Markets, LLC
|
| Fees: | 1.5%
|
| Cusip: | 78008W479
|
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