RBC plans contingent coupon barrier autocallables tied to three funds

By Marisa Wong

Morgantown, W.Va., Aug. 29 – Royal Bank of Canada plans to price autocallable contingent coupon barrier notes due Sept. 6, 2017 linked to the least performing of the iShares Russell 2000 exchange-traded fund, the PowerShares QQQ Trust, Series 1 and the SPDR S&P Biotech exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 8.1% if each fund closes at or above its 60% barrier level on the related quarterly observation date.

The notes will be called at par if each fund closes at or above its initial level on any quarterly observation date.

The payout at maturity will be par unless any fund finishes below the 60% barrier level, in which case investors will be fully exposed to any losses of the worst performing fund.

RBC Capital Markets, LLC is the underwriter.

The notes will price on Aug. 31.

The Cusip number is 78012KTA5.

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