RBC plans 6.6%-8.6% six-month airbag yield notes tied to SanDisk

By Marisa Wong

Madison, Wis., May 23 - Royal Bank of Canada plans to price 6.6% to 8.6% annualized airbag yield optimization notes due Nov. 30, 2012 linked to the common stock of SanDisk Corp., according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The payout at maturity will be par unless the SanDisk stock finishes below the 75% conversion level, in which case the payout will be a number of SanDisk shares equal to $1,000 divided by the conversion price.

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

The notes (Cusip: 78008C564) will price on May 29 and settle on May 31.

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