RBC eyes contingent coupon barrier autocallables tied to four stocks

By Wendy Van Sickle

Columbus, Ohio, March 23 – Royal Bank of Canada plans to price autocallable contingent coupon barrier notes due March 30, 2020 linked to the least performing of four common stocks, according to a 424B2 filing with the Securities and Exchange Commission.

The underlying companies are Amazon.com, Inc., Facebook, Inc., Alphabet Inc. and Netflix Inc.

The notes will pay a contingent quarterly coupon at an annual rate of 10.4% to 11.4% if each stock closes at or above the 50% coupon barrier on the observation date for that quarter.

After one year, the notes will be called at par if each stock closes at or above its initial price on any quarterly observation date.

The payout at maturity will be par unless any stock finishes below the 50% trigger level, in which case investors will lose 1% for each 1% decline of the worst performing stock.

RBC Capital Markets, LLC is the underwriter.

The notes will price on March 28.

The Cusip number is 78013GDF9.

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