RBC plans contingent coupon barrier autocallables tied to three stocks

By Susanna Moon

Chicago, May 25 – Royal Bank of Canada plans to price 0% autocallable contingent coupon barrier notes due May 31, 2019 linked to the least performing of the common stocks of Facebook, Inc., Alphabet Inc. and Nvidia Corp., according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a quarterly coupon at an annual rate of 14.5% if each stock closes above its trigger level, 65% of its initial level, on the review date for that quarter.

The notes will be called at par plus the coupon if each stock closes above its initial price on any quarterly review date beginning Nov. 27, 2017.

The payout at maturity will be par plus the contingent coupon unless any stock finishes below the 65% trigger level, in which case investors will lose 1% for each 1% decline of the worst performing stock.

RBC Capital Markets, LLC is the agent.

The notes will price on May 26 and settle on May 31.

The Cusip number is 78012KT23.

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