New Issue: RBC prices $500,000 10.85% reverse convertibles linked to First Solar

New York, April 27 - Royal Bank of Canada priced $500,000 of 10.85% reverse convertible notes due July 28, 2011 linked to First Solar, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless First Solar shares fall below the protection price of $101.03, 75% of the initial price of $134.71, during the life of the notes and finish below the initial price in which case the payout will be First Solar shares equal to $1,000 principal amount divided by the initial price.

RBC Capital Markets Corp. is the agent.

Issuer:	Royal Bank of Canada
Issue:	Reverse convertible notes
Underlying stock:	First Solar, Inc. (Symbol: FSLR)
Amount:	$500,000
Maturity:	July 28, 2011
Coupon:	10.85%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless First Solar shares fall below the protection price of $101.03, 75% of the initial price, and finish below the initial price, in which case First Solar shares equal to $1,000 principal amount divided by the initial price
Initial price:	$134.71
Protection price:	$101.03, 75% of $134.71
Pricing date:	April 25
Settlement date:	April 28
Agent:	RBC Capital Markets Corp.
Fees:	1.25%
Cusip:	78008TAJ3

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