RBC plans autocallable contingent coupon barrier notes on Nordstrom

By Sarah Lizee

Olympia, Wash., July 22 – Royal Bank of Canada plans to price 0% autocallable contingent coupon barrier notes due Aug. 3, 2022 linked to the common stock of Nordstrom, Inc., according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a quarterly coupon at an annual rate of 9% to 10% if the stock closes at or above its coupon barrier, 50% of the initial price, on the related quarterly observation date.

The notes will be called at par plus the coupon if the stock closes at or above its initial price on any quarterly observation date starting Jan. 29, 2020.

The payout at maturity will be par plus the final coupon unless the stock finishes below the 50% trigger level, in which case investors will lose 1% for each 1% decline below the initial price.

RBC Capital Markets, LLC is the agent.

The notes will price July 29.

The Cusip number is 78013XXF0.

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