RBC to price 6.2%-8.2% airbag autocallables linked to Expedia

By Angela McDaniels

Tacoma, Wash., Dec. 13 – Royal Bank of Canada plans to price 6.2% to 8.2% airbag autocallable yield notes due Dec. 26, 2017 linked to the common stock of Expedia, Inc., according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly. The exact interest rate will be set at pricing.

The notes will be called automatically at par if Expedia shares close at or above the initial share price on any quarterly observation date.

The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of Expedia shares equal to $1,000 divided by the conversion price. The conversion price will be 86% of the initial share price.

UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.

The notes are expected to price Dec. 16.

The Cusip number is 78014E174.

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