RBC plans principal-protected notes inversely linked to currency basket

By Laura Lutz

Des Moines, April 8 - Royal Bank of Canada plans to price an issue of zero-coupon principal-protected notes due April 29, 2011 linked to the negative performance of a basket of five currencies, according to a 424B5 filing with the Securities and Exchange Commission.

The basket includes equal weights of the Japanese yen, the euro, the British pound, the Swiss franc and the Singapore dollar, each against the U.S. dollar.

The payout at maturity will be par plus the absolute value of any decline in the basket. Investors will receive at least par.

The notes are expected to price on April 28 and settle on April 30.

RBC Capital Markets Corp. is the underwriter.

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