RBC to price contingent coupon barrier autocallables on Netflix

By Sarah Lizee

Olympia, Wash., April 18 – Royal Bank of Canada plans to price autocallable contingent coupon barrier notes due April 29, 2022 linked to the common stock of Netflix, Inc., according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 9.3% to 10.3% if the stock closes at or above its 60% coupon barrier on the related quarterly observation date.

The notes will be called at par if the stock closes at or above its initial price on any quarterly observation date beginning Oct. 28.

The payout at maturity will be par unless the stock finishes below its 60% trigger level, in which case investors will be exposed to any losses.

RBC Capital Markets, LLC is the underwriter.

The notes will price on April 26.

The Cusip number is 78013X5U8.

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