RBC plans to price trigger phoenix autocallables linked to Amazon.com

By Toni Weeks

San Luis Obispo, Calif., June 18 – Royal Bank of Canada plans to price trigger phoenix autocallable notes due July 6, 2016 linked to Amazon.com, Inc. shares, according to an FWP with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 8% to 10% if the stock closes at or above the coupon barrier, 80% of the initial share price, on the observation date for that quarter. The exact coupon will be set at pricing.

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

The payout at maturity will be par unless the stock finishes below the 80% trigger level, in which case investors will receive a number of Amazon.com shares equal to $1,000 divided by the initial share price of, at the issuer’s option, the cash value of those shares.

The notes (Cusip: 78013GAC9) will price June 30 and settle July 6.

RBC Capital Markets, LLC is the underwriter.

© 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.