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RBC plans 6%-7.3% airbag yield optimization notes on Silver Wheaton
By Marisa Wong
Madison, Wis., Nov. 21 - Royal Bank of Canada plans to price 6% to 7.3% annualized airbag yield optimization notes due May 30, 2014 linked to Silver Wheaton 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 payout at maturity will be par unless Silver Wheaton stock finishes below the 80% conversion level, in which case the payout will be a number of Silver Wheaton 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 Nov. 26 and settle on Nov. 29.
The Cusip number is 78010Y133.
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