New Issue: RBC prices $15.94 million 12.73% trigger yield optimization notes on Micron Technology

By Jennifer Chiou

New York, May 24 - Royal Bank of Canada priced $15.94 million of 12.73% annualized trigger yield optimization notes due Nov. 28, 2011 linked to the common stock of Micron Technology, Inc., according to a 424B2 with the Securities and Exchange Commission.

Interest will be payable monthly.

The face amount of each note will be equal to the initial share price of Micron stock.

The payout at maturity will be par unless the final price of Micron stock is less than 70% of the initial share price, in which case investors will receive one Micron share per note.

UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.

Issuer:	Royal Bank of Canada
Issue:	Trigger yield optimization notes
Underlying stock:	Micron Technology, Inc. (Nasdaq: MU)
Amount:	$15,935,059.14
Maturity:	Nov. 28, 2011
Coupon:	12.73%, payable monthly
Price:	Par of $10.01
Payout at maturity:	If final share price is less than trigger price, one Micron share; otherwise, par
Initial share price:	$10.01
Trigger price:	$7.01, 70% of initial price
Pricing date:	May 20
Settlement date:	May 25
Agents:	UBS Financial Services Inc. and RBC Capital Markets, LLC
Fees:	1%
Cusip:	78009C399

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