RBC to price trigger autocallable contingent yield notes on indexes

By Sarah Lizee

Olympia, Wash., Oct. 16 – Royal Bank of Canada plans to price trigger autocallable contingent yield notes due Oct. 22, 2020 linked to the S&P 500 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of between 8% if each asset closes at or above its coupon barrier, 72% to 75% of its initial level, on the observation date for that quarter. The exact coupon will be set at pricing.

After six months, the notes will be called at par of $10 if each asset closes at or above its initial level on any quarterly observation date.

The payout at maturity will be par plus the final coupon unless either asset finishes below the downside threshold level, 72% to 75% of its initial level, in which case investors will lose 1% for every 1% loss of the worse performing asset from its initial level.

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

The notes (Cusip: 78014G674) will price on Oct. 18 and settle on Oct. 23.

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