RBC plans 7%-9% airbag yield optimization notes linked to Rio Tinto

By Susanna Moon

Chicago, Oct. 10 - Royal Bank of Canada plans to price 7% to 9% annualized airbag yield optimization notes due April 18, 2013 linked to the American Depositary Shares of Rio Tinto plc, 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 Rio Tinto shares equal to $1,000 divided by the conversion price. The conversion price will be 85% of the initial share price.

UBS Financial Services Inc. and RBC Capital Markets LLC are the underwriters.

The notes will price on Oct. 12 and settle on Oct. 17.

The Cusip number is 78008W446.

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