RBC plans 8.2%-9% contingent coupon autocalls tied to Apple, Facebook

By Susanna Moon

Chicago, July 26 – Royal Bank of Canada plans to price autocallable contingent coupon barrier notes due July 30, 2021 linked to the lesser performing of the common stocks of Apple, Inc. and Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes pay a contingent quarterly coupon at an annual rate of 8.2% to 9% if each stock closes at or above its 70% coupon barrier on the observation date for that quarter.

The notes will be called at par if each stock closes at or above its initial level on any quarterly observation date after six months.

The payout at maturity will be par unless either stock finishes below its 70% trigger level, in which case investors will be fully exposed to any losses of the worse performing stock.

RBC Capital Markets, LLC is the underwriter.

The notes will price on July 27.

The Cusip number is 78013XQT8.

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