Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers R > Headlines for Royal Bank of Canada > News item |
RBC plans to price one-year Stars tied to Apple via BofA Merrill Lynch
By Susanna Moon
Chicago, March 3 – Royal Bank of Canada plans to price 0% Strategic Accelerated Redemption Securities due March 2016 linked to Apple Inc. shares, according to an FWP with the Securities and Exchange Commission.
If the stock closes at or above the initial price on any quarterly observation date, the notes will be called at par of $10 plus an annualized call premium of 8% to 10%. The exact call premium will be determined at pricing.
If the shares finish at or above the initial price, the payout at maturity will be par.
Otherwise, investors will be exposed to any losses.
BofA Merrill Lynch is the agent.
The notes will price and settle in March.
© 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.