RBC plans 10.1%-11.1% contingent coupon autocalls tied to MGM, Wynn

By Susanna Moon

Chicago, July 23 – Royal Bank of Canada plans to price autocallable contingent coupon barrier notes due July 30, 2021 linked to the lesser performing of the common stocks of MGM Resorts International and Wynn Resorts, Ltd., according to a 424B2 filing with the Securities and Exchange Commission.

The notes pay a contingent quarterly coupon at an annual rate of 10.1% to 11.1% if each stock closes at or above its 60% 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 either stock finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worse performing stock.

RBC Capital Markets, LLC is the underwriter.

The notes will price on July 27.

The Cusip number is 78013XQG6.

© 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.