RBC to price direct investment notes linked to 20 infrastructure stocks

By E. Janene Geiss

Philadelphia, Jan. 14 - Royal Bank of Canada plans to price 0% direct investment notes due Feb. 26, 2010 linked to 20 infrastructure stocks, according to a 424B5 filing with the Securities and Exchange Commission.

The equally weighted basket includes the common stocks of Emcor Group Inc., Fluor Corp., Grainger (W.W.) Inc., Fastenal Co., Quanta Services, Inc., Astec Industries, Inc., Covanta Holding Corp., Cummins Inc., Granite Construction Inc., URS Corp., Acuity Brands, Inc., Caterpillar Inc., Jacobs Engineering Group Inc., Martin Marietta Materials, Inc., Energy Conversion Devices, Inc., the Shaw Group Inc., Terex Corp., Vulcan Materials Co., Evergreen Solar, Inc. and Fuelcell Energy, Inc.

At maturity, investors will receive 97.25% of par times the sum of the basket return and the average dividend yield of the basket stocks.

The notes are expected to price Jan. 27 and settle Jan. 30.

RBC Capital Markets Corp. will be the underwriter.

© 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.