New Issue: RBC prices $650,000 31.8% reverse convertibles linked to Amarin

New York, April 25 - Royal Bank of Canada priced $650,000 of 31.8% reverse convertible notes due July 26, 2011 linked to Amarin Corp. PLC shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Amarin shares fall below the protection price of $11.84, 70% of the initial price of $16.92, during the life of the notes and finish below the initial price in which case the payout will be Amarin shares equal to $1,000 principal amount divided by the initial price.

RBC Capital Markets Corp. is the agent.

Issuer:	Royal Bank of Canada
Issue:	Reverse convertible notes
Underlying stock:	Amarin Corp. PLC (Symbol: AMRN)
Amount:	$650,000
Maturity:	July 26, 2011
Coupon:	31.8%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Amarin shares fall below the protection price of $11.84, 70% of the initial price, and finish below the initial price, in which case Amarin shares equal to $1,000 principal amount divided by the initial price
Initial price:	$16.92
Protection price:	$11.84, 70% of $16.92
Pricing date:	April 21
Settlement date:	April 27
Agent:	RBC Capital Markets Corp.
Fees:	1.25%
Cusip:	78008TAF1

© 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.