RBC plans callable contingent coupon barrier notes on Home Depot

By Marisa Wong

Morgantown, W.Va., Jan. 26 – Royal Bank of Canada plans to price callable contingent coupon barrier notes due Jan. 31, 2019 linked to Home Depot, Inc. shares, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent coupon at an annual rate of 8.05% on a quarter if the stock closes at or above its coupon barrier level, 75% of its initial level, on the observation date for that quarter.

The notes are callable at par on any quarterly observation date.

The payout at maturity will be par unless the stock finishes below its 75% trigger level, in which case investors will receive a number of shares of Home Depot stock equal to $1,000 divided by the initial share price.

RBC Capital Markets, LLC is the underwriter.

The notes will price on Jan. 27.

The Cusip number is 78013GCC7.

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