RBC plans 6.5%-8.5% airbag yield optimization notes on Weatherford

By Jennifer Chiou

New York, Dec. 19 - Royal Bank of Canada plans to price 6.5% to 8.5% annualized airbag yield optimization notes due June 28, 2013 linked to Weatherford International Ltd. shares, according to an FWP with the Securities and Exchange Commission.

Interest will be 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 Weatherford shares equal to $1,000 divided by the conversion price. The conversion price will be 80% of the initial share price.

The notes (Cusip: 78008W776) are expected to price on Dec. 27 and settle on Dec. 31.

UBS Financial Services Inc. and RBC Capital Markets LLC are the underwriters.

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