New Issue: RBC prices $60,000 13% reverse convertibles linked to KB Home

New York, Sept. 18 - Royal Bank of Canada priced $60,000 of 13% reverse convertible notes due Dec. 19, 2012 linked to KB Home shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless KB Home shares fall below the protection price of $9.56, 70% of the initial price of $13.65, during the life of the notes and finish below the initial price in which case the payout will be KB Home 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:	KB Home (Symbol: KBH)
Amount:	$60,000
Maturity:	Dec. 19, 2012
Coupon:	13%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless KB Home shares fall below the protection price of $9.56, 70% of the initial price, and finish below the initial price, in which case KB Home shares equal to $1,000 principal amount divided by the initial price
Initial price:	$13.65
Protection price:	$9.56, 70% of $13.65
Pricing date:	Sept. 14
Settlement date:	Sept. 19
Agent:	RBC Capital Markets Corp.
Fees:	1.75%
Cusip:	78008SJA5

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