RBC to price trigger autocallable contingent yield notes on two ETFs

By Marisa Wong

Morgantown, W.Va., Nov. 13 – Royal Bank of Canada plans to price trigger autocallable contingent yield notes due Nov. 19, 2020 linked to the lesser performing of the iShares Russell 2000 exchange-traded fund and the SPDR Euro Stoxx 50 ETF, according to an FWP filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at an annualized rate of 7.2% to 7.3% if each ETF closes at or above the coupon barrier, 70% of the initial share price, on the observation date for that quarter.

The notes will be automatically called at par of $10 if each ETF closes at or above the initial share price on any quarterly observation date after six months.

If the notes are not called and the final share price of each ETF is greater than or equal to the 70% downside threshold, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% decline of the lesser performing ETF.

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

The notes will price on Nov. 14.

The Cusip number is 78013F669.

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