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Prospect News home > News index > List of issuers B > Headlines for Beazer Homes USA, Inc. > News item |
RBC plans 6%-8.2% airbag yield optimization autocallables on Beazer
By Susanna Moon
Chicago, Nov. 13 - Royal Bank of Canada plans to price 6% to 8.2% airbag autocallable yield optimization notes due May 21, 2014 linked to Beazer Homes USA, Inc. shares, 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 notes will be called at par plus the coupon if the stock finishes above its initial share price on any quarter observation date.
The payout at maturity will be par unless Beazer stock finishes below the 80% conversion level, in which case the payout will be a number of Beazer 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 Nov. 15 and settle on Nov. 20.
The Cusip number is 78009Q885.
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