RBC plans contingent coupon autocallables linked to Gold Miners fund

By Susanna Moon

Chicago, Sept. 19 – Royal Bank of Canada plans to price autocallable contingent coupon barrier notes due Sept. 26, 2019 linked to the VanEck Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 7.8% to 8.8% if the fund closes at or above its 70% coupon barrier on the observation date for that quarter.

The notes will be called at par if the fund closes its initial level on any coupon payment date beginning March 22, 2018.

The payout at maturity will be par unless the fund finishes below its 70% 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 Sept. 22 and settle on Sept. 27.

The Cusip number is 78012K6N2.

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