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RBC plans to price trigger phoenix autocallables linked to Rite Aid
By Susanna Moon
Chicago, July 28 – Royal Bank of Canada plans to price trigger phoenix autocallable optimization securities due Jan. 31, 2017 linked to Rite Aid 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 10% to 12.5% if Rite Aid stock closes at or above the trigger level, 65% 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 Rite Aid shares finish below the 65% 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 July 29 and settle on July 31.
The Cusip number is 78013D482.
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