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RBC plans 8.5%-10.5% airbag yield optimization notes on Jive Software
By Susanna Moon
Chicago, Aug. 14 - Royal Bank of Canada plans to price 8.5% to 10.5% annualized airbag yield optimization notes due Feb. 24, 2014 linked to Jive Software, Inc. shares, according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly. The exact interest rate will be set at pricing.
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 Jive Software shares equal to $1,000 divided by the conversion price. The conversion price will be 80% of the initial share price.
UBS Financial Services Inc. and RBC Capital Markets, LLC are the underwriters.
The notes will price on Aug. 16 and settle on Aug. 21.
The Cusip number is 78009Q257.
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