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RBC plans 6.35%-8.35% airbag yield optimization notes on Huntsman
By Jennifer Chiou
New York, Oct. 24 - Royal Bank of Canada plans to price 6.35% to 8.35% annualized airbag yield optimization notes due April 30, 2013 linked to Huntsman Corp. shares, according to an FWP 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 Huntsman shares equal to $1,000 divided by the conversion price. The conversion price will be 80% of the initial share price.
The notes (Cusip: 78008W529) will price on Oct. 29 and settle on Oct. 31.
UBS Financial Services Inc. and RBC Capital Markets LLC are the underwriters.
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