RBC eyes trigger autocallable contingent yield notes on S&P, Russell

By Sarah Lizee

Olympia, Wash., Aug. 20 – Royal Bank of Canada plans to price trigger autocallable contingent yield notes due Aug. 26, 2021 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 7% to 7.25% if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.

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

The payout at maturity will be par plus the final coupon unless either index finishes below the downside threshold level, 70% of its initial level, in which case investors will lose 1% for every 1% loss of the worse performing index from its initial level.

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

The notes will price on Aug. 21.

The Cusip number is 78014J397.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.