Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers R > Headlines for Royal Bank of Canada > News item |
RBC to price 15.75% reverse convertibles linked to Las Vegas Sands
By Angela McDaniels
Tacoma, Wash., March 8 - Royal Bank of Canada plans to price 15.75% annualized reverse convertible notes due June 18, 2010 linked to the common stock of Las Vegas Sands Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The payout at maturity will be par unless the stock falls below the barrier price - 75% of the initial share price - during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Las Vegas Sands shares equal to $1,000 divided by the initial share price or, at RBC's option, the cash equivalent.
The notes are expected to price March 15 and settle March 18.
RBC Capital Markets Corp. is the agent.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.