New Issue: RBC prices $1.64 million 9.43% airbag yield autocallables tied to Coach

By Toni Weeks

San Diego, Dec. 18 - Royal Bank of Canada priced $1.64 million of 9.43% airbag autocallable yield optimization notes due Dec. 19, 2013 linked to Coach, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The notes will be automatically called if the stock closes at or above the initial price on any quarterly observation date.

If the notes are not called, the payout at maturity will be par unless Coach stock finishes below the 85% conversion level, in which case the payout will be a number of Coach shares equal to $1,000 divided by the conversion price.

UBS Financial Services Inc. and RBC Capital Markets, LLC are the underwriters.

Issuer:	Royal Bank of Canada
Issue:	Airbag autocallable yield optimization notes
Underlying stock:	Coach, Inc. (Symbol: COH)
Amount:	$1,643,000
Maturity:	Dec. 19, 2013
Coupon:	9.43%, payable monthly
Price:	Par
Payout at maturity:	If final share price is less than conversion price, number of Coach shares equal to $1,000 divided by conversion price; otherwise, par
Initial share price:	$57.05
Conversion price:	$48.49, 85% of initial price
Call:	At par plus coupon if Coach stock closes at or above initial share price on quarterly observation date
Pricing date:	Dec. 14
Settlement date:	Dec. 19
Underwriters:	UBS Financial Services Inc. and RBC Capital Markets, LLC
Fees:	1.5%
Cusip:	78008W719

© 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.