RBC plans contingent absolute return autocallables tied to Expedia

By Devika Patel

Knoxville, Tenn., Nov. 18 – Royal Bank of Canada plans to price 0% contingent absolute return autocallable optimization securities due Nov. 30, 2016 linked to the common stock of Expedia, Inc., according to an FWP filing with the Securities and Exchange Commission.

The notes will be called at par of $10 plus an annualized call premium of 10% to 12.5% if Expedia stock closes at or above the initial share price on any quarterly observation date. The exact call premium will be set at pricing.

If the notes are not called and the final share price is greater than or equal to the trigger price, which will be set at pricing, the payout at maturity will be par plus the absolute value of the stock return. Otherwise, investors will be fully exposed to the stock decline.

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

The notes (Cusip: 78013C260) will price on Nov. 20 and settle on Nov. 25.

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