Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers F > Headlines for F5 Networks Inc. > News item |
RBC to price 9.6%-11.6% reverse convertibles linked to F5 Networks
By Angela McDaniels
Tacoma, Wash., Aug. 19 - Royal Bank of Canada plans to price reverse convertible notes due March 6, 2014 linked to the common stock of F5 Networks Inc., according to an FWP filing with the Securities and Exchange Commission.
The six-month notes will carry an annualized coupon of 9.6% to 11.6%. The exact interest rate will be set at pricing. Interest will be payable monthly.
The payout at maturity will be par unless F5 Networks stock falls below the barrier price, 70% 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 F5 Networks shares equal to $1,000 divided by the initial share price or, at RBC's option, the value of those shares in cash.
RBC Capital Markets LLC is the agent.
The notes will price Aug. 29 and settle Sept. 4.
The Cusip number is 78010UAV9.
© 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.