RBC plans two-year contingent coupon barrier autocallables on BofA

By Susanna Moon

Chicago, Sept. 15 – Royal Bank of Canada plans to price autocallable contingent coupon barrier notes due Sept. 26, 2019 linked to the common stock of Bank of America Corp., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 7.2% to 8.2% if the stock closes at or above its 75% coupon barrier on the observation date for that quarter.

The notes will be called at par if the stock closes its initial level on any coupon payment date after six months.

The payout at maturity will be par unless the stock finishes below its 75% trigger level, in which case investors will be fully exposed to any losses.

RBC Capital Markets, LLC is the underwriter.

The notes will price on Sept. 22 and settle on Sept. 27.

The Cusip number is 78012K6M4.

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