New Issue: RBC prices $0.872 million 12% reverse convertibles linked to Terex

New York, June 27 - Royal Bank of Canada priced $0.872 million of 12% reverse convertible notes due June 30, 2009 linked to Terex Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash unless Terex shares fall below the protection price of $38.46, 65% of the initial price of $59.17, during the life of the notes and finish below the initial price in which case the payout will be Terex 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:	Terex Corp. (Symbol: TEX)
Amount:	$0.872 million
Maturity:	June 30, 2009
Coupon:	12%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Terex shares fall below the protection price of $38.46, 65% of the initial price, and finish below the initial price, in which case Terex shares equal to $1,000 principal amount divided by the initial price
Initial price:	$59.17
Protection price:	$38.46, 65% of $59.17
Pricing date:	June 25
Settlement date:	June 30
Agent:	RBC Capital Markets Corp.
Fees:	2.5%

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