RBC plans 14.5% reverse convertibles linked to Green Mountain Coffee

By Jennifer Chiou

New York, April 22 - Royal Bank of Canada plans to price 14.5% annualized reverse convertible notes due July 30, 1010 linked to the common stock of Green Mountain Coffee Roasters, Inc., according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The payout at maturity will be par unless Green Mountain Coffee stock falls below the barrier price - 80% 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 Green Mountain Coffee shares equal to $1,000 divided by the initial share price or, at RBC's option, the value of those shares in cash.

The notes are expected to price April 27 and settle April 30.

RBC Capital Markets Corp. is the agent.

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