RBC plans contingent yield trigger autocalls on MSCI EAFE, EM funds

By Susanna Moon

Chicago, May 22 – Royal Bank of Canada plans to price trigger autocallable contingent yield notes due June 1, 2020 linked to the lesser performing of the iShares MSCI EAFE exchange-traded fund and the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 6% to 7% if each fund closes at or above its 70% coupon barrier on the observation date for that quarter.

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

The payout at maturity will be par plus the contingent coupon unless either fund finishes below its 70% downside threshold, in which case investors will lose 1% for each 1% decline of the worse performing index.

UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.

The notes will price on May 26.

The Cusip number is 78014E729.

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