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RBC plans 10% one-year airbag autocallables linked to Western Digital
By Susanna Moon
Chicago, Aug. 5 – Royal Bank of Canada plans to price 10% airbag autocallable yield notes due Aug. 17, 2017 linked to Western Digital Corp. shares, according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly, with the exact rate to be set at pricing.
The notes will be called at par if Western Digital shares close 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 Western Digital shares equal to $1,000 divided by the conversion price. The conversion price will be 75.25% of the initial share price.
UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.
The notes are expected to price on Aug. 12 and settle on Aug. 17.
The Cusip number is 78014C491.
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