New Issue: RBC prices $640,000 30% reverse convertibles linked to Leap Wireless

By Jennifer Chiou

New York, Jan. 15 - Royal Bank of Canada priced $640,000 of 30% annualized reverse convertible notes due April 19, 2010 linked to Leap Wireless International Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Leap Wireless shares fall below the barrier price of $10.36, 75% of the initial price of $13.81, during the life of the notes and finish below the initial price in which case the payout will be Leap Wireless 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:	Leap Wireless International Inc. (Symbol: LEAP)
Amount:	$640,000
Maturity:	April 19, 2010
Coupon:	30%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Leap Wireless shares fall below the barrier price of $10.36, 75% of the initial price, and finish below the initial price, in which case Leap Wireless shares equal to $1,000 principal amount divided by the initial price
Initial price:	$13.81
Barrier price:	$10.36, 75% of $13.81
Pricing date:	Jan. 14
Settlement date:	Jan. 20
Agent:	RBC Capital Markets Corp.
Fees:	1.25%
Cusip:	78008HVQ0

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