RBC plans contingent coupon barrier autocallables tied to four stocks

By Susanna Moon

Chicago, April 25 – Royal Bank of Canada plans to price autocallable contingent coupon barrier notes due April 30, 2020 linked to the least performing of the common stocks of Amazon.com, Inc., Facebook, Inc., Alphabet Inc. and Netflix Inc., according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 9.6% to 10.6% if each stock closes at or above its 50% barrier level on an observation date for that quarter.

The notes will be called at par if each stock closes at or above its initial level on any quarterly observation date beginning on Sept. 28, 2017.

The payout at maturity will be par unless any stock finishes below its 50% barrier, in which case investors will receive shares of the worst performing stock equal to the principal amount divided by the initial stock price.

RBC Capital Markets, LLC is the underwriter.

The notes will price on April 26.

The Cusip number is 78012KL39.

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