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RBC plans 5%-6.2% airbag yield optimization notes on Las Vegas Sands
By Susanna Moon
Chicago, Oct. 23 - Royal Bank of Canada plans to price 5% to 6.2% airbag yield optimization notes due Oct. 31, 2014 linked to Las Vegas Sands Corp. shares, according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly. The exact coupon will be set at pricing.
The payout at maturity will be par unless Las Vegas Sands stock finishes below the 85% conversion level, in which case the payout will be a number of Las Vegas Sands shares equal to $1,000 divided by the conversion price.
UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.
The notes will price on Oct. 29 and settle on Oct. 31.
The Cusip number is 78009Q745.
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