New Issue: RBC prices $11.34 million 8.44% trigger yield notes linked to Hess

By Jennifer Chiou

New York, July 12 - Royal Bank of Canada priced $11.34 million of 8.44% trigger yield optimization notes due July 13, 2012 linked to the common stock of Hess Corp., according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable monthly.

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

The payout at maturity will be par unless the final price of Hess stock is less than 80% of the initial share price, in which case investors will receive one Hess share per note.

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

Issuer:	Royal Bank of Canada
Issue:	Trigger yield optimization notes
Underlying stock:	Hess Corp. (NYSE: HES)
Amount:	$11,339,187.16
Maturity:	July 13, 2012
Coupon:	8.44%, payable monthly
Price:	Par of $74.68
Payout at maturity:	If final share price is less than trigger price, one Hess share; otherwise, par
Initial share price:	$74.68
Trigger price:	$59.74, 80% of initial price
Pricing date:	July 8
Settlement date:	July 13
Agents:	UBS Financial Services Inc. and RBC Capital Markets, LLC
Fees:	2%
Cusip:	78010T712

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