RBC plans contingent coupon barrier autocallables tied to two stocks

By Wendy Van Sickle

Columbus, Ohio, March 24 – Royal Bank of Canada plans to price autocallable contingent coupon barrier notes due Jan. 30, 2019 linked to the least performing of the common stocks of Apple Inc. and Bank of America Corp., according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 9.5% to 10.5% if each stock closes at or above its 65% barrier level on an observation date for that quarter.

The notes will be called at par if each stock closes at or above its initial level on any quarterly observation date beginning on Sept. 28, 2017.

The payout at maturity will be par unless either stock finishes below the barrier level, in which case investors will receive of the lesser performing stock equal to the principal amount divided by the initial stock price.

RBC Capital Markets, LLC is the underwriter.

The notes will price on March 28.

The Cusip number is 78013GDG7.

© 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.