RBC to price 12% buffered reverse convertibles linked to Nucor

By Susanna Moon

Chicago, Jan. 23 - Royal Bank of Canada plans to price 12% annualized buffered reverse convertibles due April 30, 2009 linked to Nucor Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

Payout at maturity will be par in cash unless Nucor stock finishes at less than the barrier price - 80% of the initial price - in which case, investors will receive a number of Nucor shares equal to $1,000 divided by the initial price, plus an amount in cash of par times the 20% buffer amount.

The notes will price on Jan. 27 and settle on Jan. 30.

RBC Capital Markets Corp. is the underwriter.

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