RBC plans contingent coupon autocallables on Disney, Nike, Starbucks

By Angela McDaniels

Tacoma, Wash., Oct. 25 – Royal Bank of Canada plans to price autocallable contingent coupon barrier notes due Oct. 31, 2019 linked to the least performing of the common stocks of Nike, Inc., Starbucks Corp. and Walt Disney Co., according to an FWP filing with the Securities and Exchange Commission.

Each quarter, the notes pay a contingent coupon at an annual rate of 10% if each stock closes at or above its trigger price, 80% of its initial price, on the observation date for that quarter.

Beginning on April 26, 2017, the notes will be called at par if each stock closes at or above its initial share price on any quarterly observation date.

The payout at maturity will be par unless the least-performing stock finishes below its trigger price, in which case investors will lose 1% for every 1% that the least-performing stock declines beyond 20%.

RBC Capital Markets, LLC is the underwriter.

The notes will price Oct. 26.

The Cusip number is 78012KUV7.

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