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RBC plans to price 8%-9% airbag autocallables linked to Mosaic
By Angela McDaniels
Tacoma, Wash., April 23 – Royal Bank of Canada plans to price 8% to 9% airbag autocallable yield notes due May 4, 2020 linked to the common stock of Mosaic Co., according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly. The exact interest rate will be set at pricing.
The notes will be called automatically at par if Mosaic 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 Mosaic shares equal to $1,000 divided by the conversion price. The conversion price will be 88% of the initial share price.
UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.
The notes are expected to price April 26.
The Cusip number is 78014H615.
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