RBC plans contingent income autocallables linked to Freeport-McMoRan

By Tali Rackner

Norfolk, Va., Oct. 23 – Royal Bank of Canada plans to price contingent income autocallable securities due May 5, 2016 linked to the common stock of Freeport-McMoRan, Inc., according to an FWP filing with the Securities and Exchange Commission.

If Freeport-McMoRan shares close at or above the downside threshold level, 60% of the initial share price, on a monthly determination date, the notes will pay a contingent payment that quarter at an annualized rate of 19.5%.

The notes will be called at par of $10 plus the contingent coupon if Freeport-McMoRan shares close at or above 95% of the initial share price on any of the first five determination dates.

If the final share price is greater than or equal to the downside threshold level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.

RBC Capital Markets, LLC is the agent.

The notes are expected to price Oct. 30 and settle Nov. 4.

The Cusip number is 78013C120.

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