New Issue: RBC prices $2.02 million 10.28% trigger yield optimization notes tied to Starwood Hotels

By Toni Weeks

San Diego, Jan. 24 - Royal Bank of Canada priced $2.02 million of 10.28% trigger yield optimization notes due Jan. 28, 2013 linked to the common stock of Starwood Hotels & Resorts Worldwide, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The face amount of each note will be equal to the initial price of Starwood stock.

The payout at maturity will be par in cash unless the final price of Starwood stock is less than 75% of the initial share price, in which case investors will receive one Starwood share per note.

UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.

Issuer:	Royal Bank of Canada
Issue:	Trigger yield optimization notes
Underlying stock:	Starwood Hotels & Resorts Worldwide, Inc. (Symbol: HOT)
Amount:	$2,018,085.30
Maturity:	Jan. 28, 2013
Coupon:	10.28%, payable monthly
Price:	Par of $53.55
Payout at maturity:	If final share price is less than trigger price, one Starwood share; otherwise, par
Initial share price:	$53.55
Trigger price:	$40.16, 75% of initial price
Pricing date:	Jan 20
Settlement date:	Jan. 25
Agents:	UBS Financial Services Inc. and RBC Capital Markets, LLC
Fees:	2%
Cusip:	78010V147

© 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.