New Issue: RBC prices $421,000 of contingent coupon barrier autocallables on Tesla stock

By Devika Patel

Knoxville, Tenn., May 8 – Royal Bank of Canada priced $421,000 of autocallable contingent coupon barrier notes due May 9, 2019 linked to the common stock of Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at an annual rate of 8.4% if the stock closes at or above the 50% trigger price on the observation date for that quarter.

The notes will be called at par if the stock closes at or above its initial price on any quarterly observation date beginning on Nov. 6, 2017.

The payout at maturity will be par unless the stock finishes below the 50% trigger price, in which case investors will lose 1% for each 1% decline of the stock from its initial level.

RBC Capital Markets, LLC is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Autocallable contingent coupon barrier notes
Underlying stock:	Tesla, Inc. (Symbol: TSLA)
Amount:	$421,000
Maturity:	May 9, 2019
Coupon:	8.4%, payable quarterly if stock closes at or above trigger price on observation date for that quarter
Price:	Par of $1,000
Payout at maturity:	Par unless stock finishes below trigger price, in which case 1% loss for each 1% decline from initial level
Call:	At par if stock closes at or above initial price on any quarterly observation date beginning Nov. 6, 2017
Initial price:	$308.35
Trigger price:	$154.18, 50% of initial price
Pricing date:	May 5
Settlement date:	May 10
Agents:	RBC Capital Markets, LLC
Fees:	1.75%
Cusip:	78012KN52

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