Would expect it is the same as any raid boss (or at least legendary raid boss).
Not sure on the exact number, but it's approximately 1 in 20-25 (or 4-5%) from what I've heard.
Although I've generally had more success than that:
0/6 articuno
1/11 zapdos
1/13 moltres
1/20 kyogre
1/7 groudon
1/13 ho-oh
0/6 Lugia