RBC to price contingent coupon barrier autocallables on Cisco, Intel

By Marisa Wong

Morgantown, W.Va., Sept. 18 – Royal Bank of Canada plans to price autocallable contingent coupon barrier notes due Sept. 26, 2019 linked to the lesser performing of the common stocks of Cisco Systems, Inc. and Intel Corp., according to a 424B2 filing with the Securities and Exchange Commission.

If each stock closes at or above its 65% coupon barrier on a quarterly observation date, the notes will pay a contingent coupon for that quarter at an annual rate of 7.66% to 8.66%. The exact contingent coupon rate will be set at pricing.

The notes will be called at par if each stock closes at or above its initial price on any quarterly observation date after six months.

The payout at maturity will be par unless either stock finishes below its 65% trigger price, in which case investors will be fully exposed to any losses of the worse performing stock.

RBC Capital Markets, LLC is the underwriter.

The notes are expected to price Sept. 22.

The Cusip number is 78012K6Q5.

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