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Prospect News home > News index > List of issuers A > Headlines for Apollo Global Management, LLC > News item |
RBC plans 7.5%-9.5% airbag yield optimization notes linked to Apollo
By Susanna Moon
Chicago, Oct. 23 - Royal Bank of Canada plans to price 7.5% to 9.5% airbag yield optimization notes due Oct. 31, 2014 linked to class A shares of Apollo Global Management, LLC, 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 payout at maturity will be par unless Apollo stock finishes below the 80% conversion level, in which case the payout will be a number of Apollo shares equal to $1,000 divided by the conversion price.
UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.
The notes will price on Oct. 29 and settle on Oct. 31.
The Cusip number is 78009Q729.
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