New Issue: RBC prices $933,000 contingent coupon barrier autocallables on Netflix

By Susanna Moon

Chicago, May 31 – Royal Bank of Canada priced $933,000 of autocallable contingent coupon barrier notes due May 23, 2019 linked to Netflix Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 10.15% if the stock closes at or above its 70% coupon barrier on the observation date for that quarter.

The notes will be called at par if the stock closes at or above its initial price on any observation date beginning Nov. 20, 2017.

The payout at maturity will be par unless the stock finishes below the 70% trigger level, in which case investors will receive a number shares equal to $1,000 divided by the initial share price.

RBC Capital Markets, LLC is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Autocallable contingent coupon barrier notes
Underlying stock:	Netflix Inc. (Symbol: NFLX)
Amount:	$933,000
Maturity:	May 23, 2019
Coupon:	10.15%, payable quarterly if each stock closes at or above 70% coupon barrier on observation date for that quarter
Price:	Par
Payout at maturity:	Par unless any stock finishes below trigger level, in which case shares of worse performing stock equal to $1,000 divided by the initial share price
Call:	At par if each stock closes at or above initial price on any observation date beginning Nov. 20, 2017
Initial level:	$157.02
Trigger level:	$109.91, 70% of initial levels
Pricing date:	May 19
Settlement date:	May 24
Agents:	RBC Capital Markets, LLC
Fees:	1.75%
Cusip:	78012KR66

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