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RBC plans 8% coupon bearing notes on Chesapeake Energy via Merrill
By Susanna Moon
Chicago, Feb. 25 - Royal Bank of Canada plans to price 8% coupon bearing notes due March 2014 linked to Chesapeake Energy Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
If Chesapeake Energy shares finish at or above the threshold level - 94% to 98% of the initial level - the payout at maturity will be par of $10. The exact threshold will be set at pricing.
Otherwise, investors will be exposed to losses beyond the threshold level.
Bank of America Merrill Lynch is the agent.
The notes will price and settle in March.
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