RBC plans autocallable trigger PLUS linked to Energy Select fund

By Angela McDaniels

Tacoma, Wash., April 18 – Royal Bank of Canada plans to price 0% autocallable trigger Performance Leveraged Upside Securities due May 3, 2019 linked to the Energy Select Sector SPDR fund, according to an FWP filing with the Securities and Exchange Commission.

The notes will be automatically called at par of $10 plus 15% if the fund closes at or above the premium threshold price, 115% of the initial share price, on Oct. 31, 2017.

If the notes are not called and the final share price is greater than the initial share price, the payout at maturity will be par plus 160% of the fund’s return. If the final share price is less than or equal to the initial share price but greater than or equal to the trigger price, 80% of the initial share price, the payout will be par. If the final share price is less than the trigger price, investors will be fully exposed to the fund’s decline.

RBC Capital Markets, LLC is the agent. Distribution is through Morgan Stanley Wealth Management.

The notes will price April 29.

The Cusip number is 78014C145.

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