RBC plans autocallable contingent coupon barrier notes on Facebook

By Marisa Wong

Morgantown, W.Va., Feb. 16 – Royal Bank of Canada plans to price autocallable contingent coupon barrier notes due Feb. 22, 2019 linked to Facebook, Inc. shares, according to an FWP filing with the Securities and Exchange Commission.

If the stock closes at or above its coupon barrier level, 80% of the initial share price, on a quarterly observation date, the notes will pay a contingent coupon for that quarter at an annual rate of 8% to 9%.

The notes will be called at par if the shares close at or above their initial price on any quarterly observation date beginning Aug. 17, 2017.

The payout at maturity will be par unless the stock finishes below its 80% trigger level, in which case investors will receive a number of shares of Facebook stock equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash value of those shares.

RBC Capital Markets, LLC is the underwriter.

The notes will price Feb. 17.

The Cusip number is 78013GCH6.

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