New Issue: RBC prices $4.39 million 12.3% ELKS linked to Freeport-McMoRan

By Toni Weeks

San Diego, Dec. 6 - Royal Bank of Canada priced $4.39 million of 12.3% Equity LinKed Securities due June 3, 2013 linked to the common stock of Freeport-McMoRan Copper & Gold Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The payout at maturity will be par of $10 unless Freeport-McMoRan stock falls by more than 20% during the life of the notes, in which case the payout will be a number of Freeport-McMoRan shares equal to $10 divided by the initial share price or, at the issuer's option, the value of those shares in cash.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Equity LinKed Securities (ELKS)
Underlying stock:	Freeport-McMoRan Copper & Gold Inc. (symbol: FCX)
Amount:	$4,385,810
Maturity:	June 3, 2013
Coupon:	12.3%, payable monthly
Price:	Par of $10
Payout at maturity:	If Freeport-McMoRan stock falls below the downside threshold price during life of notes, 0.2547 Freeport-McMoRan shares or cash equivalent; otherwise, par
Initial share price:	$39.26
Threshold price:	$31.41, 80% of initial
Pricing date:	Nov. 29
Settlement date:	Dec. 4
Agent:	RBC Capital Markets, LLC
Fees:	1.5%
Cusip:	78008W628

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