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RBC to price 8.5-9.5% callable reverse convertible notes tied to Uber
By Sarah Lizee
Olympia, Wash., Nov. 20 – Royal Bank of Canada plans to price 8.5% to 9.5% callable reverse convertible notes due Nov. 26, 2021 linked to the common stock of Uber Technologies, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes are callable on any quarterly call date after one year.
The payout at maturity will be par unless the stock falls by 50% or more, in which case the payout will be a number of shares equal to par divided by the initial share price or, at the issuer's option, the value of those shares in cash.
RBC Capital Markets, LLC is the agent.
The notes will price on Nov. 22.
The Cusip number is 78013GTM7.
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