RBC plans to price trigger phoenix autocallables tied to Under Armour

By Wendy Van Sickle

Columbus, Ohio, March 31 – Royal Bank of Canada plans to price trigger phoenix autocallable notes due April 13, 2017 linked to the common stock of Under Armour, Inc., according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annualized rate of 10% to 12% if the stock closes at or above the coupon barrier level – 70% of the initial price – on the observation date for that quarter.

The notes will be called at par plus the contingent coupon if the shares close at or above the initial price on any quarterly observation date.

The payout at maturity will be par plus the contingent coupon unless the shares finish below the 70% trigger level, in which case investors will be fully exposed to any losses.

RBC Capital Markets, LLC is the agent.

The notes will price April 8 and settle April 13.

The Cusip number is 78013GAU9.

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