RBC to price 8%-10% airbag autocallables linked to Las Vegas Sands

By Toni Weeks

San Diego, Dec. 12 - Royal Bank of Canada plans to price 8% to 10% airbag autocallable yield optimization notes due Dec. 19, 2013 linked to Las Vegas Sands Corp. shares, 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 the stock closes at or above the initial price on any quarterly observation date.

If the notes are not called, the payout at maturity will be par unless Las Vegas Sands stock finishes below the 85% conversion level, in which case the payout will be a number of Las Vegas Sands shares equal to $1,000 divided by the conversion price.

The notes (Cusip: 78008W701) are expected to price Dec. 14 and settle Dec. 19.

UBS Financial Services Inc. and RBC Capital Markets, LLC are the underwriters.

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