RBC plans one-year contingent income autocallables tied to Halliburton

By Susanna Moon

Chicago, Aug. 10 – Royal Bank of Canada plans to price contingent income autocallable securities due Aug. 23, 2018 linked to Halliburton Co. stock, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annualized rate of 9.9% if Halliburton stock closes at or above the 80% downside threshold on a determination date for that quarter.

The notes will be called at par plus the contingent coupon if the shares close at or above the initial level on any of the first three determination dates.

The payout at maturity will be par plus the final contingent coupon unless the stock finishes below the 80% downside threshold, in which case investors will lose 1% for each 1% decline.

RBC Capital Markets, LLC is the agent with Morgan Stanley Wealth Management as dealer.

The notes are expected to price on Aug. 18 and settle on Aug. 23.

The Cusip number is 78013F289.

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