RBC to price phoenix autocallable notes linked to DISH Network

By Marisa Wong

Madison, Wis., Nov. 12 – Royal Bank of Canada plans to price phoenix autocallable notes due Dec. 2, 2015 linked to the common stock of DISH Network Corp., according to an FWP with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 12.8% if DISH stock closes at or above the barrier level, 75% of the initial share price, on the observation date for that quarter.

The notes will be called at par plus the contingent coupon if DISH shares close at or above the initial share price on any quarterly observation date.

If the notes are not called and DISH shares finish at or above the barrier level, the payout at maturity will be par plus the contingent coupon.

Otherwise, investors will be fully exposed to any losses.

RBC Capital Markets, LLC is the underwriter with J.P. Morgan Securities LLC as the placement agent.

The notes will price on Nov. 14 and settle on Nov. 19.

The Cusip number is 78010U5V5.

© 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.