New Issue: RBC prices $4 million trigger autocallable optimization securities linked to Riverbed

By Toni Weeks

San Diego, July 14 - Royal Bank of Canada priced $4 million of 0% trigger autocallable optimization securities due July 18, 2012 linked to the common stock of Riverbed Technology, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

If Riverbed stock closes at or above the initial share price on any of 12 monthly observation dates, the notes will be called at par of $10 plus an annualized call return of 38.82%.

The payout at maturity will be par if Riverbed stock finishes at or above 65% of the initial share price. Otherwise, investors will be exposed to any share price decline.

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

Issuer:	Royal Bank of Canada
Issue:	Trigger autocallable optimization securities
Underlying stock:	Riverbed Technology, Inc. (Symbol: RVBD)
Amount:	$4 million
Maturity:	July 18, 2012
Coupon:	0%
Price:	Par
Payout at maturity:	If Riverbed stock finishes at or above $26.12, which is 65% of initial price, par; otherwise exposure to losses
Initial price:	$40.18
Trigger price:	$26.12, 65% of initial price
Call option:	Par plus 38.82% per year if Riverbed stock closes at or above the initial share price on any of 12 monthly observation dates
Pricing date:	July 12
Settlement date:	July 15
Agents:	UBS Financial Services Inc. and RBC Capital Markets, LLC
Fees:	1.25%
Cusip:	78010T738

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