RBC plans 6.5%-7.5% contingent yield trigger autocalls tied to funds

By Susanna Moon

Chicago, Dec. 14 – Royal Bank of Canada plans to price trigger autocallable contingent yield notes due Dec. 18, 2020 linked to the least performing of the iShares Russell 2000 exchange-traded fund and the SPDR Euro Stoxx 50 ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annualized rate of 6.5% to 7.5% if each fund closes at or above its 70% coupon barrier on each trading day for that quarter.

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

The payout at maturity will be par plus the contingent coupon unless either fund finishes below its 70% downside threshold, in which case investors will be fully exposed to any losses of the worse performing fund.

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

The notes will price on Dec. 15.

The Cusip number is 78013F826.

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