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RBC plans 9.4% to 10.4% airbag autocallable yield notes on Twitter
By Sarah Lizee
Olympia, Wash., May 28 – Royal Bank of Canada plans to price 9.4% to 10.4% airbag autocallable yield notes due June 4, 2020 linked to the common stock of Twitter, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be automatically called at par if the shares close 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, 75% of the initial share price, in which case the payout will be a number of the shares equal to $1,000 divided by the conversion price.
UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.
The notes will price on May 29.
The Cusip number is 78014H854.
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