RBC plans 10% reverse convertibles linked to Goldcorp

By Laura Lutz

Des Moines, March 10 - Royal Bank of Canada plans to price an issue of 10% reverse convertible notes due Sept. 30, 2008 linked to the common stock of Goldcorp, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable monthly.

If Goldcorp stock falls below the knock-in price - 70% of the initial share price - during the life of the notes and finishes below the initial price, the payout at maturity will be a number of Goldcorp shares equal to par divided by the initial price.

Otherwise, the payout will be par.

The notes will price on March 26 and settle on March 31.

RBC Capital Markets Corp. will be the agent.

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