RBC plans to price trigger phoenix autocallables linked to Schwab

By Susanna Moon

Chicago, June 18 – Royal Bank of Canada plans to price trigger phoenix autocallable optimization securities due Dec. 23, 2016 linked to Charles Schwab Corp. shares, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 7.5% to 9.5% if Schwab stock closes at or above the trigger level, 80% of the initial level, on the observation date for that quarter.

If the shares close at or above the initial price on any quarterly observation date, the notes will be called at par of $10 plus the contingent coupon.

The payout at maturity will be par plus the contingent coupon unless Schwab shares finish below the trigger level, in which case investors will be fully exposed to any losses.

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

The notes will price on June 19 and settle on June 24.

The Cusip number is 78013D326.

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