RBC plans contingent coupon autocallables linked to four tech stocks

New York, May 9 – Royal Bank of Canada plans to price autocallable contingent coupon barrier notes due May 20, 2020 linked to 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.

Each quarter, the notes will pay a contingent coupon if all four stocks close at or above their coupon barrier prices, 50% of their initial prices, on the observation date for that quarter. The contingent coupon rate is expected to be 8.8% to 9.8% per year and will be set at pricing.

The notes will be called at par plus the contingent coupon if all four stocks close at or above their initial share prices on any quarterly observation date.

The payout at maturity will be par unless the worst performing stock finishes below its trigger price, 50% of its initial value, in which case investors will be exposed to the decline in the worst performing stock from its initial share price.

RBC Capital Markets, LLC is the underwriter.

The notes will price on May 15 and settle on May 18.

The Cusip number is 78012KR90.

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