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RBC plans 6.8%-8.8% airbag yield optimization notes tied to Halliburton
By Angela McDaniels
Tacoma, Wash., Sept. 4 - Royal Bank of Canada plans to price 6.8% to 8.8% annualized airbag yield optimization notes due March 13, 2013 linked to the common stock of Halliburton Co., according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
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 Halliburton shares equal to $1,000 divided by the conversion price. The conversion price will be 85% of the initial share price.
The notes are expected to price Sept. 7 and settle Sept. 12.
UBS Financial Services Inc. and RBC Capital Markets LLC are the underwriters.
The Cusip number is 78008W289.
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