RBC plans contingent income autocallables due 2016 linked to Regeneron

By Susanna Moon

Chicago, June 1 – Royal Bank of Canada plans to price contingent income autocallable securities due Dec. 8, 2016 linked to Regeneron Pharmaceuticals, Inc. shares, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly payment at an annualized rate of 13% if the shares close at or above the 75% threshold level on the observation date for that month.

The notes will be called at par of $10 plus the contingent coupon if the stock closes at or above the initial level on any of the first five determination dates.

The payout at maturity will be par plus the final coupon unless the shares finish below the 75% threshold level, in which case investors will be exposed to any losses.

RBC Capital Markets, LLC is the agent, and Morgan Stanley Wealth Management is a dealer.

The notes will price on June 3 and settle on June 8.

The Cusip number is 78014C277.

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