RBC plans contingent coupon barrier autocallables tied to Gold Miners

By Susanna Moon

Chicago, Feb. 8 – Royal Bank of Canada plans to price autocallable contingent coupon barrier notes due Feb. 13, 2020 linked to the VanEck Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes pay a contingent quarterly coupon at an annual rate of 9.6% to 10.6% if the fund closes at or above the 60% coupon barrier on the observation date for that quarter.

The notes will be called at par if the fund closes at or above its initial level on any quarterly review date after one year.

The payout at maturity will be par unless the fund finishes below its 60% trigger level, in which case investors will be fully exposed to any losses.

RBC Capital Markets, LLC is the underwriter.

The notes will price on Feb. 10 and settle on Feb. 15.

The Cusip number is 78012KZN0.

© 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.