RBC plans autocallable contingent coupon barrier notes tied to stocks

By Tali Rackner

Minneapolis, Jan. 5 – Royal Bank of Canada plans to price autocallable contingent coupon barrier notes due Jan. 15, 2021 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.

Each quarter, the notes pay a contingent coupon if each stock closes at or above its coupon barrier, 50% of its initial share price, on the observation date for that quarter. The contingent coupon rate is expected to be 7.6% to 8.6% per year and will be set at pricing.

Beginning July 12, 2018, the notes will be called at par if each stock closes at or above its initial share price on any quarterly observation date.

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

RBC Capital Markets, LLC is the underwriter.

The notes will price on Jan. 12 and settle on Jan. 18.

The Cusip number is 78013XCV8.

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