RBC plans 5.75%-7.25% trigger yield optimization notes on Time Warner

By Toni Weeks

San Diego, Sept. 11 - Royal Bank of Canada plans to price 5.75% to 7.25% trigger yield optimization notes due Sept. 19, 2014 linked to the common stock of Time Warner Inc., 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 face amount of each note will be equal to the initial price of Time Warner stock.

The payout at maturity will be par in cash unless the final price of Time Warner stock is less than 75% of the initial share price, in which case investors will receive one Time Warner share per note.

The notes (Cusip: 78008W305) are expected to price Sept. 14 and settle Sept. 19.

UBS Financial Services Inc. and RBC Capital Markets, LLC will be the agents.

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