RBC plans to price trigger phoenix autocallables tied to Tesla Motors

By Susanna Moon

Chicago, July 3 – Royal Bank of Canada plans to price trigger phoenix autocallable notes due June 23, 2017 linked to Tesla Motors, Inc. shares, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annual rate of 12% if Tesla stock closes at or above the 70% coupon barrier level on an observation date for that month.

The notes will be called at par plus the contingent coupon if the shares close at or above the initial price on any quarterly call date.

If the notes are not called and Tesla shares finish at or above the 60% trigger level, the payout at maturity will be par plus the contingent coupon.

Otherwise, investors will be fully exposed to any losses.

RBC Capital Markets, LLC is the agent.

The notes will price on July 21 and settle on July 24.

The Cusip number is 78010UL21.

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