RBC plans to price trigger phoenix autocallables linked to Yahoo!

By Angela McDaniels

Tacoma, Wash., June 13 – Royal Bank of Canada plans to price trigger phoenix autocallable notes due June 23, 2017 linked to the common stock of Yahoo! Inc., according to an FWP filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at the rate of 8.2% per year if the stock closes at or above the barrier price, 70% of the initial share price, on the observation date for that quarter.

The notes will be called at par plus the contingent coupon if the stock closes at or above its initial share price on any quarterly observation date.

If the notes are not called and the stock finishes at or above the barrier price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will receive a number of Yahoo! shares equal to $1,000 divided by the initial share price or, at the issuer’s option, an amount in cash equal to the value of those shares.

RBC Capital Markets, LLC is the agent.

The notes will price June 20 and settle June 25.

The Cusip number is 78010UE37.

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