RBC to price phoenix autocallable notes linked to Amazon.com

By Toni Weeks

San Luis Obispo, Calif., March 17 – Royal Bank of Canada plans to price phoenix autocallable notes due April 13, 2016 linked to Amazon.com, Inc. shares, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 10.55% if Amazon.com stock closes at or above the coupon barrier, 75% of the initial share price, on the observation date for that quarter.

The notes will be called at par if Amazon.com shares close at or above the initial share price on any observation date other than the final date.

The payout at maturity will be par unless the stock finishes below the 75% trigger level, in which case investors will be fully exposed to any losses.

The final stock price will be the average of the closing share prices on the five trading days ending April 8, 2016.

The notes (Cusip: 78012KCR6) are expected to price March 20 and settle March 25.

RBC Capital Markets, LLC is the underwriter with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents.

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