By Jennifer Chiou
New York, May 30 - Royal Bank of Canada priced $5 million of Libor-linked daily range accrual notes due May 31, 2022, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable semi-annually beginning on Nov. 30, 2007 and will accrue at 8.75% for each day one-month Libor remains within a range of 0% to and including 6.4%.
The payout at maturity will be par plus accrued interest.
On any interest payment date beginning on May 31, 2008, the notes may be called in whole at par plus accrued interest.
RBC Capital Markets Corp. is the agent.
| Issuer: | Royal Bank of Canada
|
| Issue: | Libor-linked daily range accrual notes
|
| Amount: | $5 million
|
| Maturity: | May 31, 2022
|
| Coupon: | 8.75% for each day one-month Libor remains within range, payable Nov. 30, 2007 and semi-annually thereafter
|
| Price: | Par
|
| Payout at maturity: | Par plus accrued interest
|
| Range: | 0% to and including 6.4%
|
| Call: | Beginning May 31, 2008 onwards on any interest payment date in whole
|
| Pricing date: | May 29
|
| Settlement date: | May 31
|
| Agent: | RBC Capital Markets Corp.
|
| Fees: | 1.95%
|
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