RBC plans contingent income autocallables linked to Las Vegas Sands

By Susanna Moon

Chicago, June 1 – Royal Bank of Canada plans to price contingent income autocallable securities due June 9, 2016 linked to Las Vegas Sands Corp. shares, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 9.6% if Las Vegas Sands shares close at or above the barrier level, 75% of the initial share price, on a determination date for that quarter.

The notes will be called at par of $10 plus the contingent coupon if Las Vegas Sands shares close at or above the initial share price on any of the first three determination dates.

If the stock finishes at or above the barrier level, the payout at maturity will be par plus the contingent coupon.

Otherwise, investors will receive a number of Las Vegas Sands shares equal to $10 divided by the initial share price or, at the issuer’s option, the cash equivalent.

RBC Capital Markets, LLC is the agent with Morgan Stanley Wealth Management handling distribution.

The notes will price on June 5 and settle on June 10.

The Cusip number is 78013D193.

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