RBC plans one-year contingent income autocallables linked to DISH

By Susanna Moon

Chicago, May 11 – Royal Bank of Canada plans to price contingent income autocallable securities due May 17, 2018 linked to DISH Network Corp. stock, according to an FWP filed with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 10.5% if DISH shares close at or above the 75% downside threshold on the determination date for that quarter.

The notes will be called at par of $10 plus the contingent coupon if DISH shares close above the initial level on any of the first three determination dates.

The payout at maturity will be par plus the final contingent coupon, unless DISH shares finish below the 75% downside threshold, in which case investors will be fully exposed to any losses.

RBC Capital Markets, LLC is the agent, and Morgan Stanley Wealth Management is a distributor.

The notes will price on May 12 and settle on May 17.

The Cusip number is 78014E703.

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