New Issue: RBC prices $1.48 million 18.5% reverse convertibles linked to Las Vegas Sands

By Jennifer Chiou

New York, April 19 - Royal Bank of Canada priced $1.48 million of 18.5% annualized reverse convertible notes due July 20, 2010 linked to the common stock of Las Vegas Sands Corp., according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Las Vegas Sands shares fall below the protection price - 70% of the initial price - during the life of the notes and finish below the initial price, in which case the payout will be a number of Las Vegas Sands 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:	Las Vegas Sands Corp. (Symbol: LVS)
Amount:	$1,482,000
Maturity:	July 20, 2010
Coupon:	18.5%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Las Vegas Sands shares fall below the protection price during the life of the notes and finish below the initial price, in which case Las Vegas Sands shares equal to $1,000 principal amount divided by the initial price
Initial price:	$23.72
Protection price:	$16.60, 70% of initial price
Pricing date:	April 15
Settlement date:	April 20
Agent:	RBC Capital Markets Corp.
Fees:	1.5%
Cusip:	78008HN48

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