RBC eyes contingent coupon barrier autocallables tied to three stocks

By Marisa Wong

Morgantown, W.Va., March 24 – Royal Bank of Canada plans to price autocallable contingent coupon barrier notes due April 1, 2019 linked to the least performing of three common stocks, according to an FWP filing with the Securities and Exchange Commission.

The underlying companies are Bank of America Corp., Amgen Inc. and General Electric Co.

Each quarter, the notes will pay a contingent coupon at an annual rate of 11.55% if each stock closes at or above the 65% coupon barrier on the observation date for that quarter.

Beginning June 27, 2018, the notes will be called at par if each stock closes at or above its initial price on any quarterly observation date.

The payout at maturity will be par unless any stock finishes below the 65% trigger level, in which case investors will lose 1% for each 1% decline of the worst performing stock.

RBC Capital Markets, LLC is the underwriter.

The notes will price on March 27.

The Cusip number is 78012KF93.

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