New Issue: RBC prices $7.82 million 8.3% airbag autocallables linked to Facebook

By Angela McDaniels

Tacoma, Wash., May 24 - Royal Bank of Canada priced $7.82 million of 8.3% airbag autocallable yield optimization notes due May 30, 2014 linked to the common stock of Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The notes will be called automatically at par if Facebook shares close at or above the initial share price on Aug. 27, 2013, Nov. 25, 2013, Feb. 25, 2014 or May 22, 2014.

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 85% of the initial share 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:	Facebook, Inc. (Symbol: FB)
Amount:	$7,815,000
Maturity:	May 30, 2014
Coupon:	8.3%, 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
Call:	Automatically at par if Facebook shares close at or above initial share price on Aug. 27, 2013, Nov. 25, 2013, Feb. 25, 2014 or May 22, 2014
Initial share price:	$25.15
Conversion price:	$21.38, 85% of initial share price
Pricing date:	May 22
Settlement date:	May 31
Underwriters:	UBS Financial Services Inc. and RBC Capital Markets LLC
Fees:	1.5%
Cusip:	78008Y624

© 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.