RBC eyes autocallable contingent coupon barrier notes on Halliburton

By Lisa Mayntz

Chicago, March 13 – Royal Bank of Canada plans to price autocallable contingent coupon barrier notes due March 28, 2019 linked to the common stock of Halliburton Co., according to a FWP filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon if the stock closes at or above its coupon barrier price, 75% of its initial price, on the observation date for that quarter. The contingent coupon rate is expected to be 8.25% to 9.25% per year and will be set at pricing.

After six months, the notes will be called at par plus accrued interest if the stock closes at or above its initial share price on any quarterly observation date.

The payout at maturity will be par unless the stock finishes below its trigger price, 75% of its initial price, in which case investors will receive a number of Halliburton shares equal to the principal amount divided by the initial price or, at the issuer’s option, an equivalent amount in cash.

RBC Capital Markets, LLC is the agent.

The notes will price on March 25 and settle on March 29.

The Cusip number is 78013GDA0.

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