RBC plans contingent coupon barrier autocallables on Disney, Netflix

New York, April 3 – Royal Bank of Canada plans to price autocallable contingent coupon barrier notes due April 16, 2021 linked to the least performing of the stocks of Walt Disney Co. and Netflix Inc., according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a quarterly coupon at an annual rate of 9.25% to 10.25% if each stock closes at or above its coupon barrier, 50% of its initial price, on the applicable quarterly observation date. The exact coupon rate will be set at pricing.

The notes will be called at par plus the coupon if each stock closes above its initial price on any quarterly observation date starting on Oct. 15.

The payout at maturity will be par plus the final coupon unless either stock finishes below the 50% trigger price, in which case investors will lose 1% for each 1% that the lesser-performing stock’s final price is less than its initial price.

RBC Capital Markets, LLC is the agent.

The notes will price on April 13 and settle on April 18.

The Cusip number is 78013XKJ6.

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