New Issue: RBC prices $0.119 million 15.5% reverse convertibles linked to Terex

New York, Aug. 28 - Royal Bank of Canada priced $0.119 million of 15.5% reverse convertible notes due Feb. 27, 2009 linked to Terex Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash unless Terex shares fall below the protection price of $33.31, 70% of the initial price of $47.58, during the life of the notes and finish below the initial price in which case the payout will be Terex 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:	Terex Corp. (Symbol: TEX)
Amount:	$0.119 million
Maturity:	Feb. 27, 2009
Coupon:	15.5%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Terex shares fall below the protection price of $33.31, 70% of the initial price, and finish below the initial price, in which case Terex shares equal to $1,000 principal amount divided by the initial price
Initial price:	$47.58
Protection price:	$33.31, 70% of $47.58
Pricing date:	Aug. 26
Settlement date:	Aug. 29
Agent:	RBC Capital Markets Corp.
Fees:	1.75%

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