RBC plans contingent coupon barrier autocallables tied to Facebook

By Susanna Moon

Chicago, March 13 – Royal Bank of Canada plans to price autocallable contingent coupon barrier notes due March 28, 2019 linked to Facebook, 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 7.65% to 8.65% if the stock closes at or above the 80% 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 quarterly observation date beginning Aug. 17.

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

RBC Capital Markets, LLC is the underwriter.

The notes will price on March 24 and settle on March 29.

The Cusip number is 78013GDC6.

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