RBC plans to price trigger phoenix autocallables linked to Home Depot

By Susanna Moon

Chicago, Sept. 10 – Royal Bank of Canada plans to price trigger phoenix autocallable notes due Sept. 17, 2018 linked to Home Depot, Inc. shares, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 8% if Home Depot stock closes at or above the trigger price, 75% to 80% of the initial price, on the observation date for that quarter.

If the shares close at or above the initial price on any quarterly observation date beginning March 11, 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 Home Depot shares finish below the trigger level, in which case investors will receive a number of shares of Home Depot stock equal to $1,000 divided by the initial price or, at the issuer’s option, the cash equivalent.

RBC Capital Markets, LLC is the agent.

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

The Cusip number is 78013D714.

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