RBC plans contingent coupon barrier autocalls on Apple, Microsoft

New York, May 18 – Royal Bank of Canada plans to price 7.75% autocallable contingent coupon barrier notes due May 31, 2022 linked to the lesser performing of the common stocks of Apple Inc. and Microsoft Corp., according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a quarterly coupon at an annual rate of 7.75% if each stock closes at or above its coupon barrier, 60% of its initial price, on the applicable quarterly observation date.

The notes will be called at par plus the coupon if each stock closes above its initial price on any quarterly observation date starting on May 28, 2019.

The payout at maturity will be par plus the final coupon unless either stock finishes below its 60% trigger price, in which case investors will lose 1% for each 1% that the lesser-performing stock’s final price is less than its initial price.

RBC Capital Markets, LLC is the agent.

The notes will price on May 25 and settle on May 31.

The Cusip number is 78013XQE1.

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