New Issue: RBC prices $0.73 million 23.5% reverse convertibles linked to Sprint Nextel

New York, Nov. 30 - Royal Bank of Canada priced $0.73 million of 23.5% reverse convertible notes due Feb. 26, 2010 linked to Sprint Nextel Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Sprint Nextel shares fall below the protection price of $2.44, 65% of the initial price of $3.75, during the life of the notes and finish below the initial price in which case the payout will be Sprint Nextel 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:	Sprint Nextel Corp. (Symbol: S)
Amount:	$0.73 million
Maturity:	Feb. 26, 2010
Coupon:	23.5%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Sprint Nextel shares fall below the protection price of $2.44, 65% of the initial price, and finish below the initial price, in which case Sprint Nextel shares equal to $1,000 principal amount divided by the initial price
Initial price:	$3.75
Protection price:	$2.44, 65% of $3.75
Pricing date:	Nov. 24
Settlement date:	Nov. 30
Agent:	RBC Capital Markets Corp.

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