| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers R > Headlines for Royal Bank of Canada > News item |
RBC to price 9.25% reverse convertibles linked to Netflix
New York, July 7 – Royal Bank of Canada plans to price 9.25% reverse convertible notes due Jan. 21, 2015 linked to Netflix Inc. shares, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Netflix shares fall below 75% of the initial price during the life of the notes and finish below the initial price, in which case the payout will be a number of Netflix shares equal to $1,000 divided by the initial price.
The notes are expected to price on July 15 and settle on July 18.
RBC Capital Markets Corp. is the agent.
The Cusip number is 78010UM38.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.