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RBC to price 8%-10% reverse convertible notes tied to Nvidia
By Sarah Lizee
Olympia, Wash., April 2 – Royal Bank of Canada plans to price 8% to 10% reverse convertible notes due April 20, 2022 linked to the common stock of Nvidia Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless the stock falls by 70% or more, in which case investors will be fully exposed to the decline of the stock.
RBC Capital Markets, LLC is the agent.
The notes will price on April 14.
The Cusip number is 78015KKZ6.
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