RBC to price trigger phoenix autocallables linked to three indexes

By Toni Weeks

San Luis Obispo, Calif., June 12 – Royal Bank of Canada plans to price trigger phoenix autocallable notes due June 20, 2018 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 coupon of 7% per year if each index closes at or above its coupon barrier level, 70% of its initial level, on any semiannual observation date.

Beginning one year after issuance, the notes will be called at par if each index closes at or above its initial level on any semiannual observation date.

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 final contingent coupon. Otherwise, investors will be fully exposed to the decline of the worst-performing index.

RBC Capital Markets, LLC is the agent.

The notes will price June 15 and settle June 18.

The Cusip number is 78012KEY9.

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