New Issue: RBC prices $43,000 17.5% reverse convertibles linked to First Solar

New York, July 29 - Royal Bank of Canada priced $43,000 of 17.5% reverse convertible notes due Oct. 29, 2010 linked to First Solar, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless First Solar shares fall below the protection price of $102.56, 75% of the initial price of $136.74, during the life of the notes and finish below the initial price in which case the payout will be First Solar 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:	First Solar, Inc. (Symbol: FSLR)
Amount:	$43,000
Maturity:	Oct. 29, 2010
Coupon:	17.5%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless First Solar shares fall below the protection price of $102.56, 75% of the initial price, and finish below the initial price, in which case First Solar shares equal to $1,000 principal amount divided by the initial price
Initial price:	$136.74
Protection price:	$102.56, 75% of $136.74
Pricing date:	July 27
Settlement date:	July 30
Agent:	RBC Capital Markets Corp.
Fees:	1.5%
Cusip:	78008KCQ4

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