RBC plans six-month contingent income autocallables linked to Barrick

By Susanna Moon

Chicago, Nov. 9 – Royal Bank of Canada plans to price contingent income autocallable securities due May 16, 2017 linked to Barrick Gold Corp. shares, according to an FWP filed with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

The notes will pay a contingent monthly coupon at an annual rate of 14.5% if Barrick shares close at or above their downside threshold, 70% of their initial level, on the determination date for that month.

The notes will be called at par of $10 plus the contingent coupon if Barrick shares close above the initial level on any of the first five determination dates.

The payout at maturity will be par plus the final contingent coupon, unless Barrick shares finish below the 70% downside threshold, in which case investors will be fully exposed to any losses.

RBC Capital Markets, LLC is the agent, and Morgan Stanley Wealth Management is a distributor.

The notes will price on Nov. 11 and settle on Nov. 16.

The Cusip number is 78014C798.

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