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| Prospect News home > News index > List of issuers I > Headlines for iShares Silver Trust and the Market Vectors Gold Miners exchange-traded fund > News item |
RBC to price 10.5% reverse convertibles linked to iShares Silver
New York, Aug. 19 - Royal Bank of Canada plans to price 10.5% reverse convertible notes due Feb. 29, 2012 linked to iShares Silver Trust shares, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless iShares Silver shares fall below 80% 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 iShares Silver shares equal to $1,000 divided by the initial price.
The notes are expected to price on Aug. 26 and settle on Aug. 31.
RBC Capital Markets Corp. is the agent.
The Cusip number is 78008TRB2.
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