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RBC to price 6.15%-8.15% airbag optimization notes linked to Tibco
By Toni Weeks
San Luis Obispo, Calif., March 5 - Royal Bank of Canada plans to price 6.15% to 8.15% annualized airbag yield optimization notes due Sept. 13, 2013 linked to Tibco Software Inc. shares, according to an FWP with the Securities and Exchange Commission.
Interest will be payable monthly. The exact coupon will be set at pricing.
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 Tibco shares equal to $1,000 divided by the conversion price. The conversion price will be 80% of the initial share price.
The notes (Cusip: 78008D315) are expected to price March 8 and settle March 13.
UBS Financial Services Inc. and RBC Capital Markets LLC are the underwriters.
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