Published on 1/24/2012 in the Prospect News Structured Products Daily.
New Issue: RBC prices $21.19 million 10.54% trigger yield optimization notes linked to Halliburton
By Toni Weeks
San Diego, Jan. 24 - Royal Bank of Canada priced $21.19 million of 10.54% trigger yield optimization notes due Jan. 28, 2013 linked to the common stock of Halliburton Co., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The face amount of each note will be equal to the initial price of Halliburton stock.
The payout at maturity will be par in cash unless the final price of Halliburton stock is less than 70% of the initial share price, in which case investors will receive one Halliburton share per note.
UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.
Issuer: | Royal Bank of Canada
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Issue: | Trigger yield optimization notes
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Underlying stock: | Halliburton Co. (Symbol: HAL)
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Amount: | $21,190,321.60
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Maturity: | Jan. 28, 2013
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Coupon: | 10.54%, payable monthly
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Price: | Par of $36.20
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Payout at maturity: | If final share price is less than trigger price, one Halliburton share; otherwise, par
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Initial share price: | $36.20
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Trigger price: | $25.34, 70% of initial price
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Pricing date: | Jan 20
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Settlement date: | Jan. 25
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Agents: | UBS Financial Services Inc. and RBC Capital Markets, LLC
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Fees: | 2%
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Cusip: | 78010V139
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