RBC pushes back pricing of contingent coupon autocalls on tech stocks

By Susanna Moon

Chicago, Aug. 22 – Royal Bank of Canada pushed back pricing of its autocallable contingent coupon barrier notes originally due Aug. 27, 2021 linked to the least performing of the common stocks of Amazon.com Inc., Facebook, Inc., Alphabet, Inc. and Netflix, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will now price on Aug. 29 rather than Aug. 24. The notes will mature on Sept. 2, 2021.

The notes pay a contingent quarterly coupon at an annual rate of 11% to 12% if each stock closes at or above its 60% coupon barrier on the 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 after six months.

The payout at maturity will be par unless either stock finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worse performing stock.

RBC Capital Markets, LLC is the underwriter.

The Cusip number is 78013XA81.

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