RBC plans trigger phoenix autocallable notes on worst of three ETFs

New York, June 8 – Royal Bank of Canada plans to price trigger phoenix autocallable notes due June 14, 2018 linked to the worst performing of three exchange-traded funds, according to an FWP filing with the Securities and Exchange Commission.

The underlying funds are the iShares NASDAQ Biotechnology ETF, the Financial Select Sector SPDR Fund and the Technology Select Sector SPDR Fund.

The notes will pay a contingent quarterly coupon at an annual rate of 9.95% if each fund closes at or above its coupon barrier level, 65% of the initial level, on the observation date for that quarter.

The notes will be called at par plus the contingent coupon if each fund closes at or above its initial price on any quarterly observation date.

The payout at maturity will be par plus the contingent coupon unless the worst-performing fund finishes below its 65% trigger level, in which case investors will be fully exposed to the decline in that fund.

RBC Capital Markets, LLC is the agent.

The notes will price on June 10 and settle on June 14.

The Cusip number is 78012KQE0.

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