RBC plans one-year contingent income autocallables linked to Facebook

By Susanna Moon

Chicago, Nov. 22 - Royal Bank of Canada plans to price contingent income autocallable securities due December 2014 linked to Facebook Inc. shares, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon of 3.5125% if Facebook stock closes at or above the 65% barrier level on a determination date for that quarter.

The notes will be redeemed at par of $10 plus the contingent coupon if the stock closes at or above the initial share price on any of the first three quarterly determination dates.

If the notes are not called and the final share price is greater than or equal to the barrier level, the payout at maturity will be par plus the contingent coupon.

Otherwise, the payout will be a number of Facebook shares equal to $10 divided by the initial share price or, at the issuer's option, a cash amount equal to the value of those shares.

RBC Capital Markets, LLC is the agent with Morgan Stanley Wealth Management handling distribution.

The notes will price on Nov. 29 and settle three business days later.

The Cusip number is 78010Y158.

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