RBC plans 8%-10% trigger yield optimization notes linked to Valero

By Toni Weeks

San Diego, June 7 - Royal Bank of Canada plans to price 8% to 10% trigger yield optimization notes due June 14, 2012 linked to the common stock of Valero Energy Corp., according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly. The exact coupon will be set at pricing.

The face amount of each note will be equal to the initial share price of Valero stock.

The payout at maturity will be par unless the final price of Valero stock is less than 75% of the initial share price, in which case investors will receive one Valero share per note.

The notes (Cusip: 78010T605) are expected to price June 10 and settle June 15.

UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.

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