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Prospect News home > News index > List of issuers C > Headlines for Coach, Inc. > News item |
RBC plans 4%-5.4% airbag yield autocallable notes linked to Coach
By Susanna Moon
Chicago, Feb. 25 - Royal Bank of Canada plans to price 4% to 5.4% airbag autocallable yield optimization notes due March 4, 2014 linked to Coach Inc. shares, according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly. The exact coupon will be set at pricing.
The notes will be called if the stock closes at or above the initial price on any quarterly observation date.
If the notes are not called, the payout at maturity will be par unless Coach stock finishes below the 80% conversion level, in which case the payout will be a number of Coach shares equal to $1,000 divided by the conversion price.
UBS Financial Services Inc. and RBC Capital Markets, LLC are the underwriters.
The notes will price on Feb. 26 and settle on Feb. 28.
The Cusip number is 78008D257.
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