Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers J > Headlines for JPMorgan Chase & Co. > News item |
RBC to price 23.5% reverse convertibles linked to JPMorgan Chase
By Jennifer Chiou
New York, March 19 - Royal Bank of Canada plans to price 23.5% annualized reverse convertible notes due June 30, 2009 linked to the common stock of JPMorgan Chase & Co., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The payout at maturity will be par unless JPMorgan Chase stock falls below the barrier price - 60% of the initial share price - during the life of the notes and finishes below the initial share price, in which case the payout will be a number of JPMorgan Chase shares equal to $1,000 divided by the initial share price or, at the bank's option, the value of those shares in cash.
The notes are expected to price on March 26 and settle on March 31.
RBC Capital Markets Corp. is the agent.
© 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.