RBC plans contingent coupon barrier autocallables tied to three funds

By Susanna Moon

Chicago, July 14 – Royal Bank of Canada plans to price autocallable contingent coupon barrier notes due July 19, 2018 linked to the least of the iShares NASDAQ Biotechnology exchange-traded fund, the Financial Select Sector SPDR fund and Technology Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 10.4% if each fund closes at or above 70% barrier level on an observation date for that quarter.

The notes will be called at par if each fund closes at or above its initial level on any quarterly observation date.

The payout at maturity will be par unless any fund finishes below the 70% barrier level, in which case investors will be fully exposed to any losses of the worst performing fund.

RBC Capital Markets, LLC is the underwriter.

The notes will price on July 15 and settle on July 20.

The Cusip number is 78012KQW0.

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