By Susanna Moon
Chicago, May 6 - Royal Bank of Canada priced $1.41 million of 8% airbag autocallable yield optimization notes due May 7, 2015 linked to Terex Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be called at par plus accrued interest if Terex stock closes at or above the initial share price on any quarterly observation date.
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 Terex shares equal to $1,000 divided by the conversion price. The conversion price is 85% of the initial share price.
RBC Capital Markets, LLC is the agent, and UBS Financial Services Inc. is the dealer.
| Issuer: | Royal Bank of Canada
|
| Issue: | Airbag autocallable yield optimization notes
|
| Underlying stock: | Terex Corp. (Symbol: TEX)
|
| Amount: | $1.41 million
|
| Maturity: | May 7, 2015
|
| Coupon: | 8%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If final price is less than conversion price, Terex shares equal to $1,000 divided by the conversion price; otherwise, par
|
| Call: | At par if Terex shares close at or above initial share price on any quarterly observation date
|
| Initial price: | $40.87
|
| Conversion price: | $34.74, 85% of initial price
|
| Pricing date: | May 2
|
| Settlement date: | May 7
|
| Underwriters: | UBS Financial Services Inc. and RBC Capital Markets, LLC
|
| Fees: | 1.5%
|
| Cusip: | 78011Q337
|
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