New Issue: RBC prices $2 million enhanced return notes linked to Goldman Sachs

By Susanna Moon

Chicago, May 7 - Royal Bank of Canada priced $2 million of 0% enhanced return (leveraged) notes due May 15, 2009 linked to the common stock of Goldman Sachs Group, Inc., according to a 424B5 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus triple any share price gain, subject to a maximum payout at 125.5% of par. Investors will be exposed to any stock decline.

RBC Capital Markets Corp. is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Enhanced return (leveraged) notes
Underlying stock:	Goldman Sachs Group, Inc. (NYSE: GS)
Amount:	$2 million
Maturity:	May 15, 2009
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus triple any share price gain, capped at payout of 125.5% of par; exposure to any losses
Initial share price:	$197.12
Pricing date:	May 5
Settlement date:	May 8
Agent:	RBC Capital Markets Corp.
Fees:	1.5%

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