RBC reverse convertible taps 3D printing revolution

RBC is offering an income product that relies on the stock performance of 3D printer manufacturer 3D Systems for the return of capital, but has no such restriction on the quarterly income payment. The annualised coupon is 13.75%

Royal Bank of Canada has issued reverse convertible notes linked to the common stock of 3D Systems Corporation. This type of product is known as 'income generating' and generally pays a fixed income while placing principal at risk, the repayment of which is linked to the performance of the underlying stock. This product pays a monthly income with an annualised rate of 13.75%. The coupons are paid regardless of the performance of the underlying asset.

Principal is at risk if the closing day