Published on 8/17/2011 in the Prospect News Structured Products Daily.
New Issue: RBC prices $5.75 million 10.2% trigger yield optimization notes on Dow
By Marisa Wong
Madison, Wis., Aug. 18 - Royal Bank of Canada priced $5.75 million of 10.2% annualized trigger yield optimization notes due Aug. 28, 2012 linked to the common stock of Dow Chemical Co., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The face amount of each note is equal to $29.32, which is the initial price of Dow stock.
The payout at maturity will be par in cash unless the final price of Dow stock is less than 70% of the initial share price, in which case investors will receive one Dow share per note.
UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.
Issuer: | Royal Bank of Canada
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Issue: | Trigger yield optimization notes
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Underlying stock: | Dow Chemical Co. (Symbol: DOW)
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Amount: | $5,749,798.60
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Maturity: | Aug. 28, 2012
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Coupon: | 10.2%, payable monthly
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Price: | Par of $29.32
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Payout at maturity: | If final share price is less than trigger price, one Dow share; otherwise, par
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Initial share price: | $29.32
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Trigger price: | $20.52, 70% of initial price
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Pricing date: | Aug. 16
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Settlement date: | Aug. 25
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Agents: | UBS Financial Services Inc. and RBC Capital Markets, LLC
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Fees: | 2%
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Cusip: | 78010W202
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