RBC plans commodity-linked notes due 2014 tied to gold via Goldman

By Susanna Moon

Chicago, March 27 - Royal Bank of Canada plans to price 0% commodity-linked notes due 2014 tied to the price of gold, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will mature between 9 and 11 months after pricing.

If the price of gold finishes at or above 90% of the initial level, the payout at maturity will be par plus the return, with a minimum settlement amount of $972.50 to $982.50 and up a maximum payment of $1,872.50 and $1,882.50, each per $1,000 principal amount of notes with the exact deal terms to be set at pricing.

Otherwise, the payout will be the minimum settlement amount plus par times 90% of the return.

Goldman Sachs & Co. is the underwriter.

The Cusip number is 78008SJ49.

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