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RBC to price autocallable contingent coupon barrier notes on gold ETF
By Sarah Lizee
Olympia, Wash., Oct. 28 – Royal Bank of Canada plans to price autocallable contingent coupon barrier notes due Nov. 3, 2021 linked to the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of at least 12% if the ETF closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes will be called at par if the ETF closes its initial level on any quarterly observation date after six months.
If the notes are not previously called, the payout at maturity will be par unless the final level of the ETF is less than 70% of its initial level, in which case investors will have full exposure to the decline of the ETF from its initial level.
RBC Capital Markets, LLC is the underwriter.
The notes will price on Oct. 30.
The Cusip number is 78015KFX7.
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