Published on 5/31/2012 in the Prospect News Structured Products Daily.
New Issue: RBC prices $3,847,000 airbag yield optimization notes tied to SanDisk
New York, May 31 - Royal Bank of Canada priced $3,847,000 of 8.75% annualized airbag yield optimization notes due Nov. 30 linked to the common stock of SanDisk Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
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 SanDisk shares equal to $1,000 divided by the conversion price. The conversion price is 75% of the initial share price.
UBS Financial Services Inc. and RBC Capital Markets, LLC is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Airbag yield optimization notes
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Underlying stock: | SanDisk Corp. (Symbol: SNDK)
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Amount: | $3,847,000
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Maturity: | Nov. 30
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Coupon: | 8.75% annualized, payable monthly
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Price: | Par
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Payout at maturity: | If final share price is less than conversion price, number of SanDisk shares equal to $1,000 divided by conversion price; otherwise, par
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Initial share price: | $34.45
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Conversion price: | $25.84, 75% of initial price
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Pricing date: | May 29
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Settlement date: | May 31
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Underwriters: | UBS Financial Services Inc. and RBC Capital Markets, LLC
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Fees: | 1%
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Cusip: | 78008C564
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