RBC to price 15.25% reverse convertibles linked to Freeport-McMoRan

New York, Aug. 20 - Royal Bank of Canada plans to price 15.25% reverse convertible notes due Nov. 30, 2010 linked to Freeport-McMoRan Copper & Gold Inc. shares, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Freeport-McMoRan shares fall below 80% of the initial price during the life of the notes and finish below the initial price, in which case the payout will be a number of Freeport-McMoRan shares equal to $1,000 divided by the initial price.

The notes are expected to price on Aug. 26 and settle on Aug. 31.

RBC Capital Markets Corp. is the agent.

The Cusip number is 78008KGE7.

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