RBC plans airbag phoenix autocallable notes due 2015 linked to Terex

By Susanna Moon

Chicago, June 10 – Royal Bank of Canada plans to price airbag phoenix autocallable optimization securities due Dec. 18, 2015 linked to Terex Corp. shares, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annual rate of 9% to 11% per year if Terex shares close at or above the coupon barrier, 75% of the initial share price, on the observation date for that month.

The notes will be called at par if Terex shares close at or above the initial share price on any quarterly observation date.

If the notes are not called and the final price of Terex shares is greater than or equal to the conversion price, 85% of the initial share price, then the payout at maturity will be par.

Otherwise, investors will receive a number of Terex shares equal to $1,000 divided by the conversion price.

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

The notes will price on June 13 and settle on June 18.

The Cusip number is 78011Q618.

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