RBC plans 11.75-12.75% contingent coupon autocalls on tech stocks

By Susanna Moon

Chicago, April 12 – Royal Bank of Canada plans to price autocallable contingent coupon barrier notes due April 16, 2021 linked to the least performing of the class A common stock of Facebook, Inc., the common stocks of Amazon.com, Inc. and Netflix, Inc. and the class C common stock of Alphabet Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annual rate of 11.75 to 12.75% if each underlying stock closes at or above its 50% coupon barrier on the observation date for that month.

The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any valuation date beginning Oct. 15, 2018.

The payout at maturity will be par unless any underlying stock finishes below its 50% trigger level, in which case investors will be fully exposed to any losses of the worst performing stock.

RBC Capital Markets, LLC is the agent.

The notes will price on April 13 and settle on April 18.

The Cusip number is 78013XKS6.

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