Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers T > Headlines for Tesoro Corp. > News item |
RBC to price 10.75% reverse convertibles linked to Tesoro
By Laura Lutz
Des Moines, April 16 - Royal Bank of Canada plans to price an issue of 10.75% reverse convertible notes due April 30, 2008 linked to the common stock of Tesoro Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
At maturity, investors will receive par unless Tesoro stock falls below the knock-in price - 70% of the initial share price - during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Tesoro shares equal to $1,000 divided by the initial share price.
The notes will price on April 25 and settle on April 30.
RBC Capital Markets Corp. will be the agent.
© 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.