RBC plans 5.4% to 9.4% reverse convertibles linked to Family Dollar

By Jennifer Chiou

New York, Feb. 28 - Royal Bank of Canada plans to price 5.4% to 9.4% annualized reverse convertible notes due Sept. 18, 2013 linked to Family Dollar Stores, Inc. shares, according to an FWP with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Family Dollar shares fall below the protection price, 80% of the initial price, during the life of the notes and finish below the initial price in which case the payout will be Family Dollar shares equal to $1,000 principal amount divided by the initial price.

The notes (Cusip: 78008SZZ2) are expected to price on March 13 and settle on March 18.

RBC Capital Markets, LLC is the agent.

© 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.