RBC plans autocallable contingent coupon barrier notes on Wells Fargo

By Wendy Van Sickle

Columbus, Ohio, Feb. 9 – Royal Bank of Canada plans to price autocallable contingent coupon barrier notes due Feb. 22, 2019 linked to Wells Fargo & Co. shares, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a quarterly contingent coupon at an annual rate of 8.3% to 9.3% if the stock closes at or above its coupon barrier level, 80% of its initial level, on the observation date for that quarter.

The notes will be called at par if the shares close at or above their initial level on any quarterly observation date beginning in August.

The payout at maturity will be par unless the stock finishes below its 80% trigger level, in which case investors will receive a number of shares of Wells Fargo stock equal to $1,000 divided by the initial share price.

RBC Capital Markets, LLC is the underwriter.

The notes will price on Feb. 17.

The Cusip number is 78013GCG8.

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