Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers W > Headlines for Wells Fargo & Co. > News item |
RBC plans 7.9%-8.9% contingent coupon autocalls on financial stocks
By Susanna Moon
Chicago, Aug. 22 – Royal Bank of Canada plans to price autocallable contingent coupon barrier notes due Sept. 2, 2021 linked to the least performing of the common stocks of Bank of America Corp., Goldman Sachs Group, Inc. and Wells Fargo & Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annual rate of 7.9% to 8.9% if each stock closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes will be called at par if each stock closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par unless any stock finishes below its 70% trigger level, in which case investors will be fully exposed to any losses of the worst performing stock.
RBC Capital Markets, LLC is the underwriter.
The notes will price on Aug. 29.
The Cusip number is 78013XA73.
© 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.