RBC changes pricing date of 16 reverse convertibles to Aug. 30

By Angela McDaniels

Tacoma, Wash., Aug. 28 - Royal Bank of Canada changed the pricing date of 16 upcoming reverse convertible notes to Aug. 30, according to an amended FWP filing with the Securities and Exchange Commission.

The pricing date was originally expected to be Aug. 29. The settlement date remains Aug. 31.

The change affects the following offerings:

• 11.25% reverse convertibles due Nov. 30, 2012 linked to the common stock of Abercrombie & Fitch Co. The barrier is 75% of the initial price, and the Cusip number is 78008SGM2;

• 14.5% reverse convertibles due Nov. 30, 2012 linked to the common stock of Chesapeake Energy Corp. The barrier is 75% of the initial price, and the Cusip number is 78008SGN0;

• 8.5% reverse convertibles due Aug. 30, 2013 linked to the common stock of Corning Inc. The barrier is 80% of the initial price, and the Cusip number is 78008SHB5;

• 10% reverse convertibles due Feb. 28, 2013 linked to the common stock of Cummins Inc. The barrier is 80% of the initial price, and the Cusip number is 78008SGU4;

• 10.75% reverse convertibles due Feb. 28, 2013 linked to the common stock of D.R. Horton, Inc. The barrier is 80% of the initial price, and the Cusip number is 78008SGX8;

• 11.25% reverse convertibles due Feb. 28, 2013 linked to the common stock of Dean Foods Co. The barrier is 80% of the initial price, and the Cusip number is 78008SGV2;

• 10% reverse convertibles due Nov. 30, 2012 linked to the common stock of F5 Networks, Inc. The barrier is 75% of the initial price, and the Cusip number is 78008SGP5;

• 8% reverse convertibles due Feb. 28, 2013 linked to the common stock of Halliburton Co. The barrier is 80% of the initial price, and the Cusip number is 78008SGY6;

• 8.75% reverse convertibles due Feb. 28, 2013 linked to the common stock of Harley-Davidson, Inc. The barrier is 80% of the initial price, and the Cusip number is 78008SGZ3;

• 14% reverse convertibles due Nov. 30, 2012 linked to the common stock of J.C. Penney Co., Inc. The barrier is 70% of the initial price, and the Cusip number is 78008SGQ3;

• 8.5% reverse convertibles due Aug. 30, 2013 linked to the common stock of JPMorgan Chase & Co. The barrier is 80% of the initial price, and the Cusip number is 78008SHC3;

• 13% reverse convertibles due Nov. 30, 2012 linked to the common stock of PulteGroup Inc. The barrier is 75% of the initial price, and the Cusip number is 78008SGR1;

• 10% reverse convertibles due Nov. 30, 2012 linked to the common stock of Tesoro Corp. The barrier is 80% of the initial price, and the Cusip number is 78008SGS9.

• 12.5% reverse convertibles due Nov. 30, 2012 linked to the common stock of United States Steel Corp. The barrier is 75% of the initial price, and the Cusip number is 78008SGT7;

• 10% reverse convertibles due Feb. 28, 2013 linked to the common stock of Valero Energy Corp. The barrier is 80% of the initial price, and the Cusip number is 78008SHA7; and

• 8.5% reverse convertibles due Aug. 30, 2013 linked to the common stock of Whole Foods Market, Inc. The barrier is 80% of the initial price, and the Cusip number is 78008SHD1.

The payout at maturity will be par in cash unless the underlying stock falls below its barrier during the life of the notes and finishes below its initial price, in which case the payout will be a number of shares equal to $1,000 divided by the initial price.

RBC Capital Markets Corp. is the agent.

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