RBC plans trigger phoenix autocallable notes linked to three indexes

By Susanna Moon

Chicago, Nov. 14 – Royal Bank of Canada plans to price trigger phoenix autocallable optimization securities due Nov. 17, 2017 linked to the worst performing of the S&P 500 index, the Euro Stoxx 50 index and the FTSE 100 index, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent semiannual coupon at an annual rate of 6.5% to 7.5% if each index closes at or above its coupon barrier, 70% of its initial level, on an observation date for that period.

The notes will be called at par of $10 plus the contingent coupon if each index closes at or above its initial level on any quarterly observation date after one year.

If the notes are not called and each index finishes at or above its 70% trigger level, the payout at maturity will be par plus the contingent coupon.

Otherwise, investors will be fully exposed to any losses of the worst performing index.

The exact deal terms will be set at pricing.

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

The notes will price in November.

The Cusip number is 78010U5X1.

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