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RBC to price 6%-7.1% airbag autocallables linked to Royal Gold
By Marisa Wong
Madison, Wis., June 4 – Royal Bank of Canada plans to price 6% to 7.1% airbag autocallable yield optimization notes due June 9, 2016 linked to Royal Gold, Inc. shares, according to an FWP with the Securities and Exchange Commission.
Interest is payable monthly. The exact coupon will be set at pricing.
The notes will be automatically called at par if Royal Gold shares close at or above the initial share price on any autocall observation date, which occur quarterly.
If the notes are not called and the final price of Royal Gold shares is greater than or equal to the conversion price, 85% of the initial share price, the payout at maturity will be par. Otherwise, investors will receive a number of Royal Gold shares equal to $1,000 divided by the conversion price.
UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.
The notes are expected to price on June 5 and settle on June 10.
The Cusip number is 78013D268.
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