RBC plans three-year contingent income autocallables linked to Coach

By Susanna Moon

Chicago, Aug. 12 – Royal Bank of Canada plans to price contingent income autocallable securities due Aug. 22, 2019 linked to Coach, inc. 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 10.75% if the stock closes at or above its downside threshold level, 70% of its initial level, on the review date for that quarter.

The notes will be called at par if the stock closes at or above its initial level on any of the first 11 determination dates.

The payout at maturity will be par unless Coach shares finish below its 70% downside threshold level, in which case investors will be fully exposed to any losses.

RBC Capital Markets, LLC is the underwriter. Morgan Stanley Wealth Management is the dealer.

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

The Cusip number is 78014C509.

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