New Issue: RBC prices $1.98 million 27.5% reverse convertibles linked to Amedisys

By Angela McDaniels

Tacoma, Wash., April 16 - Royal Bank of Canada priced $1.98 million of 27.5% reverse convertible notes due Oct. 20, 2009 linked to the common stock of Amedisys, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The six-month notes will pay 13.75% for an annualized coupon of 27.5%. Interest is payable monthly.

The payout at maturity will be par unless Amedisys stock falls by more than 35% during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Amedisys shares equal to $1,000 divided by the initial share price or, at RBC's option, an amount in cash equal to the value of those shares.

RBC Capital Markets Corp. is the agent.

Issuer:	Royal Bank of Canada
Issue:	Reverse convertible notes
Underlying stock:	Amedisys, Inc. (Symbol: AMED)
Amount:	$1,975,000
Maturity:	Oct. 20, 2009
Coupon:	27.5%, payable monthly
Price:	Par
Payout at maturity:	If Amedisys stock falls below the barrier price during the life of the notes and the final share price is less than the initial share price, 34.19973 Amedisys shares or the equivalent in cash; otherwise, par
Initial share price:	$29.24
Barrier price:	$19.01, 65% of initial price
Pricing date:	April 15
Settlement date:	April 20
Agent:	RBC Capital Markets Corp.
Fees:	2%

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