RBC to price trigger autocallables linked to Euro Stoxx Banks index

By Angela McDaniels

Tacoma, Wash., July 5 – Royal Bank of Canada plans to price trigger autocallable contingent yield notes due July 19, 2018 linked to the Euro Stoxx Banks index, according to an FWP filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at the rate of 11% per year if the index closes at or above its downside threshold on the observation date for that quarter. The downside threshold is expected to be 56% to 65% of the initial index level and will be set at pricing.

The notes will be automatically called at par of $10 if the index closes at or above its initial level on any quarterly call observation date.

If the notes are not called and the final index level is greater than or equal to the downside threshold, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the index’s final level is less than its initial level.

UBS Financial Services Inc. and RBC Capital Markets LLC are the agents.

The notes will price July 15.

The Cusip number is 78014C376.

© 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.