Published on 11/15/2011 in the Prospect News Structured Products Daily.
New Issue: RBC prices $557,000 9.37% airbag yield optimization notes linked to Hansen Natural
By Susanna Moon
Chicago, Nov. 15 - Royal Bank of Canada priced $557,000 of 9.37% annualized airbag yield optimization notes due May 17, 2012 linked to Hansen Natural Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless the final share price is less than the conversion price - 80% of the initial share price - in which case the payout will be a number of Hansen Natural shares equal to $1,000 divided by the conversion price.
UBS Financial Services Inc. and RBC Capital Markets, LLC are the underwriters.
Issuer: | Royal Bank of Canada
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Issue: | Airbag yield optimization notes
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Underlying stock: | Hansen Natural Corp. (Symbol: HANS)
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Amount: | $557,000
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Maturity: | May 17, 2012
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Coupon: | 9.37%, payable monthly
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Price: | Par
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Payout at maturity: | If final share price is less than conversion price, 13.3761 Hansen Natural shares; otherwise, par
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Initial share price: | $93.45
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Conversion price: | $74.76, or 80% of initial share price
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Pricing date: | Nov. 11
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Settlement date: | Nov. 16
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Underwriters: | UBS Financial Services Inc. and RBC Capital Markets, LLC
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Fees: | 1%
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Cusip: | 78010W566
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