Royal Bank of Canada plans to price contingent coupon barrier autocalls with memory on stocks

By Emma Trincal

New York, April 13 – Royal Bank of Canada plans to price autocallable contingent coupon barrier notes due April 24, 2025 linked to an equally-weighted basket of the stocks of Occidental Petroleum Corp. and Marathon Oil Corp., according to an FWP filing with the Securities and Exchange Commission.

The notes pay a quarterly contingent coupon at an annual rate of 10.5% to 11.5% if the basket is greater than or equal to its 60% coupon barrier on the relevant observation date. Coupon payments will include any previously unpaid coupons. The exact coupon rate will be set at pricing.

The notes will be automatically called at par plus the coupon payment if the basket closes at or above its initial price on any quarterly observation date after six months.

The payout at maturity will be par plus the coupon payment if the basket finishes at or above its 60% trigger price.

Otherwise, investors will be exposed to the decline in the basket price from its initial level.

RBC Capital Markets, LLC is the agent.

The notes will price on April 18 and settle on April 21.

The Cusip number is 78016FHK3.

© 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.