By Toni Weeks
San Luis Obispo, Calif., June 17 – Royal Bank of Canada priced $1.6 million of 6.75% airbag autocallable yield optimization notes due June 18, 2015 linked to the common stock of Trinity Industries, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be automatically called at par plus accrued interest if Trinity stock closes at or above the initial share price on any quarterly observation date.
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 Trinity shares equal to $1,000 divided by the conversion price. The conversion price is 85% of the initial share price.
RBC Capital Markets, LLC is the agent, and UBS Financial Services Inc. is the dealer.
| Issuer: | Royal Bank of Canada
|
| Issue: | Airbag autocallable yield optimization notes
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| Underlying stock: | Trinity Industries, Inc. (Symbol: TRN)
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| Amount: | $1,595,000
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| Maturity: | June 18, 2015
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| Coupon: | 6.75%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If final price is less than conversion price, 14.4592 Trinity shares; otherwise, par
|
| Call: | At par if Trinity shares close at or above initial share price on any quarterly observation date
|
| Initial price: | $52.68
|
| Conversion price: | $44.78, 85% of initial price
|
| Pricing date: | June 13
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| Settlement date: | June 18
|
| Underwriters: | UBS Financial Services Inc. and RBC Capital Markets, LLC
|
| Fees: | 1.5%
|
| Cusip: | 78011Q642
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