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RBC to price 6.5%-8.5% airbag autocallables linked to Kinross Gold
By Angela McDaniels
Tacoma, Wash., Jan. 28 - Royal Bank of Canada plans to price 6.5% to 8.5% annualized airbag autocallable yield optimization notes due Jan. 31, 2014 linked to the common stock of Kinross Gold Corp., according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly. The exact coupon will be set at pricing.
The notes will be automatically called if Kinross Gold shares close at or above the initial share price on April 26, 2013, July 29, 2013, Oct. 29, 2013 or Jan. 27, 2014.
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 Kinross Gold shares equal to $1,000 divided by the conversion price. The conversion price will be 85% of the initial share price.
The notes are expected to price Jan. 29 and settle Jan. 31.
UBS Financial Services Inc. and RBC Capital Markets, LLC are the underwriters.
The Cusip number is 78008D125.
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