Published on 8/6/2012 in the Prospect News Structured Products Daily.
New Issue: RBC sells $386,000 airbag yield optimization notes tied to Sprint
By Marisa Wong
Madison, Wis., Aug. 6 - Royal Bank of Canada priced $386,000 of 8.8% annualized airbag yield optimization notes due Feb. 8, 2013 linked to the common stock of Sprint Nextel Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of Sprint shares equal to $1,000 divided by the conversion price. The conversion price is 70% of the initial share price.
UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.
Issuer: | Royal Bank of Canada
|
Issue: | Airbag yield optimization notes
|
Underlying stock: | Sprint Nextel Corp. (Symbol: S)
|
Amount: | $386,000
|
Maturity: | Feb. 8, 2013
|
Coupon: | 8.8% per year, payable monthly
|
Price: | Par
|
Payout at maturity: | If final share price is less than conversion price, number of Sprint shares equal to $1,000 divided by conversion price; otherwise, par
|
Initial share price: | $4.29
|
Conversion price: | $3.00, 70% of initial price
|
Pricing date: | Aug. 2
|
Settlement date: | Aug. 7
|
Agents: | UBS Financial Services Inc. and RBC Capital Markets, LLC
|
Fees: | 1%
|
Cusip: | 78008D802
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.