RBC plans 11.5%-14.5% trigger phoenix autocallables on Foster Wheeler

By Susanna Moon

Chicago, May 10 - Royal Bank of Canada plans to price trigger phoenix autocallable optimization securities due May 16, 2013 linked to Foster Wheeler AG shares, according to an FWP filing with the Securities and Exchange Commission.

If Foster Wheeler stock closes at or above the 65% trigger level on a quarterly observation date, the issuer will pay a contingent coupon at an annualized rate of 11.5% to 14.5% for that quarter. The exact rate will be set at pricing.

If the shares close at or above the initial price on a quarterly observation date, the notes will be called at par of $10 plus the contingent coupon.

If the notes are not called and Foster Wheeler shares finish at or above the trigger price, the payout at maturity will be par plus the contingent coupon.

Otherwise, investors will be fully exposed to any losses.

UBS Financial Services Inc. and RBC Capital Markets, LLC are the underwriters.

The notes will price on May 11 and settle on May 17.

The Cusip number is 78008C465.

© 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.