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RBC announces new series of Principal Protected
Commodity-linked "Booster Plus" Notes
NEW YORK, April 19, 2007 — RBC today announced that Royal Bank of Canada has filed a Preliminary Pricing Supplement dated April 4, 2007, which relates to its Principal Protected Commodity-linked "Booster Plus" Notes, due April 29, 2011 (the "Commodity-Linked 'Booster Plus' Notes"), which are linked to a basket of commodities. RBC Capital Markets is the underwriter of the offering.
The Commodity-Linked "Booster Plus" Notes, which will be issued under Royal Bank of Canada's Senior Global Medium-Term Notes, Series C, program are
100 percent principal protected and, under certain circumstances, provide an enhanced return based on the cumulative performance of a basket of four commodities, between the pricing date and the final valuation date, April 27, 2011. The Notes will not pay a traditional, periodic rate of interest but under certain circumstances, the Notes will pay a fixed, enhanced coupon at maturity, so long as the basket's performance at maturity is positive. In other circumstances, the Notes may pay a coupon even if the basket's performance at maturity is negative. However, if the basket's performance is down more than 25 percent at maturity, investors will only receive their principal. The basket of commodities are aluminum, nickel, zinc and crude oil (each comprising
25 percent of the basket). RBC expects to price these Commodity-Linked "Booster Plus" Notes on April 26, 2007.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state, province or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state, province or other jurisdiction.
The Preliminary Pricing Supplement dated April 4, 2007, as well as the base prospectus dated January 5, 2007, and the Medium-Term Notes prospectus supplement dated February 28, 2007, which relate to it, are available on the web site of the U.S. Securities and Exchange Commission, www.sec.gov. They are also available from RBC Capital Markets Corporation, One Liberty Plaza, New York NY 10006, and RBC Dain Rauscher Inc., a selling group member.
About RBC
Royal Bank of Canada (RY on TSX and NYSE) and its subsidiaries
operate under the master brand name of RBC. We are Canada's
largest bank as measured by assets and market capitalization
and one of North America's leading diversified financial services
companies. We provide personal and commercial banking, wealth
management services, insurance, corporate and investment banking
and transaction processing services on a global basis. Our
corporate support team enables business growth with expert
professional advice and state-of-the art processes and technology.
We employ approximately 70,000 full- and part-time employees
who serve more than 14 million personal, business, public
sector and institutional clients throughout offices in North
America and 34 countries around the world. For more information,
please visit www.rbc.com.
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For more information, please contact:
Kevin Foster, RBC Capital Markets
(212) 428-6902
kevin.foster@rbccm.com
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