RBC plans trigger phoenix autocallable notes linked to Foot Locker

By Tali Rackner

Norfolk, Va., Dec. 10 – Royal Bank of Canada plans to price trigger phoenix autocallable optimization securities due Dec. 17, 2018 linked to the common stock of Foot Locker, Inc., according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 9% if Foot Locker stock closes at or above the trigger price, 62% to 67% of the initial price, on the observation date for that quarter. The exact trigger level will be set at pricing.

If the shares close at or above the initial price on any quarterly observation date beginning June 13, 2016, the notes will be called at par of $10 plus the contingent coupon.

The payout at maturity will be par plus the contingent coupon unless Foot Locker shares finish below the trigger level, in which case investors will be fully exposed to the share price decline.

UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.

The notes will price on Dec. 11 and settle on Dec. 16.

The Cusip number is 78013C385.

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