RBC plans contingent coupon barrier autocallables on two ETFs

New York, April 18 – Royal Bank of Canada plans to price autocallable contingent coupon barrier notes due April 29, 2021 linked to the lesser performing of the VanEck Vectors Gold Miners exchange-traded fund and the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a quarterly coupon at an annual rate of 10.1% to 11.1% if each fund closes at or above its coupon barrier, 70% of its initial price, on the applicable quarterly observation date. The exact coupon rate will be set at pricing.

The notes will be called at par plus the coupon if each fund closes above its initial price on any quarterly observation date starting on Oct. 26, 2018.

The payout at maturity will be par plus the final coupon unless either fund finishes below its 70% trigger price, in which case investors will lose 1% for each 1% that the lesser-performing fund’s final price is less than its initial price.

RBC Capital Markets, LLC is the agent.

The notes will price on April 26 and settle on April 30.

The Cusip number is 78013XLN6.

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