Published on 8/20/2012 in the Prospect News Structured Products Daily.
New Issue: RBC prices $343,000 8% six-month airbag yield notes tied to F5 Networks
By Toni Weeks
San Diego, Aug. 20 - Royal Bank of Canada priced $343,000 of 8% annualized airbag yield optimization notes due Feb. 25, 2013 linked to F5 Networks, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The payout at maturity will be par unless F5 Networks stock finishes below the 75% conversion level, in which case the payout will be a number of F5 Networks 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
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Issue: | Airbag yield optimization notes
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Underlying stock: | F5 Networks, Inc. (Symbol: FFIV)
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Amount: | $343,000
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Maturity: | Feb. 25, 2013
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Coupon: | 8%, payable monthly
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Price: | Par
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Payout at maturity: | If final share price is less than conversion price, number of F5 Networks shares equal to $1,000 divided by conversion price; otherwise, par
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Initial share price: | $104.05
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Conversion price: | $78.04, 75% of initial share price
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Pricing date: | Aug. 16
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Settlement date: | Aug. 21
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Underwriters: | UBS Financial Services Inc. and RBC Capital Markets LLC
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Fees: | 1%
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Cusip: | 78008W149
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