RBC to price 7% airbag autocallable yield notes linked to Beazer Homes

By Toni Weeks

San Luis Obispo, Calif., June 25 – Royal Bank of Canada plans to price 7% airbag autocallable yield optimization notes due June 30, 2015 linked to the common stock of Beazer Homes USA, 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 notes will be automatically called at par plus accrued interest if Beazer Homes 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 Beazer Homes shares equal to $1,000 divided by the conversion price. The conversion price will be 76.75% of the initial share price.

The notes (Cusip: 78011Q725) are expected to price June 26 and settle June 30.

RBC Capital Markets, LLC is the agent, and UBS Financial Services Inc. is the dealer.

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