By Susanna Moon
Chicago, May 20 - Royal Bank of Canada priced $12.42 million of 11.75% airbag autocallable yield optimization notes due May 21, 2015 linked to GT Advanced Technologies Inc. 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 GT Advanced Technologies 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 GT Advanced Technologies shares equal to $1,000 divided by the conversion price. The conversion price is 60% 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: | GT Advanced Technologies Inc. (Symbol: GTAT)
|
| Amount: | $12.42 million
|
| Maturity: | May 21, 2015
|
| Coupon: | 11.75%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If final price is less than conversion price, GT Advanced Technologies shares equal to $1,000 divided by the conversion price; otherwise, par
|
| Call: | At par if GT Advanced Technologies shares close at or above initial share price on any quarterly observation date
|
| Initial price: | $13.89
|
| Conversion price: | $8.33, 60% of initial price
|
| Pricing date: | May 16
|
| Settlement date: | May 21
|
| Underwriters: | UBS Financial Services Inc. and RBC Capital Markets, LLC
|
| Fees: | 1.5%
|
| Cusip: | 78011Q394
|
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