By Susanna Moon
Chicago, Nov. 1 - Royal Bank of Canada priced $2.03 million of 11.7% airbag autocallable yield optimization notes due Oct. 31, 2014 linked to Facebook Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if the shares close at or above the initial share price on any quarterly observation date.
The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of Facebook shares equal to $1,000 divided by the conversion price. The conversion price is 80% of the initial share price.
UBS Financial Services Inc. and RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
|
| Issue: | Airbag autocallable yield optimization notes
|
| Underlying stock: | Facebook Inc. (Symbol: FB)
|
| Amount: | $2.03 million
|
| Maturity: | Oct. 31, 2014
|
| Coupon: | 11.7%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If final share price is less than conversion price, number of Facebook shares equal to $1,000 divided by conversion price; otherwise, par
|
| Initial share price: | $49.40
|
| Conversion price: | $39.52, 80% of initial price
|
| Call: | At par if the shares close at or above initial share price on any quarterly observation date
|
| Pricing date: | Oct. 29
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| Settlement date: | Oct. 31
|
| Underwriters: | UBS Financial Services Inc. and RBC Capital Markets, LLC
|
| Fees: | 1.5%
|
| Cusip: | 78009Q794
|
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