b12720101fwp.htm

The information in this “Summary” section is qualified by the more detailed information set forth in this terms supplement, the product prospectus supplement, the prospectus supplement, and the prospectus.

General:		This terms supplement relates to thirty seven (37) separate Reverse Convertible Notes (“RevCons”) offerings. Each RevCon offering is a separate offering of Notes linked to one, and only one, Reference Stock. Thirty one (31) of the Notes have a term of three months (“Three Month Notes”) and six (6) have a term of six months (“Six Month Notes”). The term of each Note is indicated above. If you wish to participate in more than one RevCon offering, you must separately purchase the applicable Notes. The Notes offered by this terms supplement do not represent Notes linked to a basket of two or more of the Reference Stocks.

Issuer:		Royal Bank of Canada (“Royal Bank”)

Issue:		Senior Medium-Term Notes, Series D

Pricing Date:		December 28, 2010

Issuance Date:		December 31, 2010

Denominations:		Minimum denomination of $1,000, and integral multiples of $1,000 thereafter.

Designated Currency:		U.S. Dollars

Coupon Payment:		Each coupon will be paid in equal monthly payments. (30/360)

Coupon Payment Date(s):		The coupon will be paid on the last business day of each month during the term of the Note, except for the final coupon, which will be paid on the applicable Maturity Date.

Three Month Notes:

	Valuation Date:	March 28, 2011

	Maturity Date:	March 31, 2011

Six Month Notes:

	Valuation Date:	June 27, 2011

	Maturity Date:	June 30, 2011

Reference Stocks:		As set forth on the cover page.

Term:		As set forth on the cover page.

Initial Stock Price:		The closing price of the Reference Stock on the Pricing Date.

Final Stock Price:		The closing price of the Reference Stock on the Valuation Date.

RBC Capital Markets, LLC


		Reverse Convertible Notes Each Linked to a Single Reference Stock

Payment at Maturity (if held to maturity):	For each $1,000 principal amount of the Notes, the investor will receive $1,000 plus any accrued and unpaid interest at maturity unless: (i) the Final Stock Price is less than the Initial Stock Price; and (ii) on any day during the Monitoring Period, the closing price of the Reference Stock is less than the Barrier Price. If the conditions described in (i) and (ii) are both satisfied, then at maturity the investor will receive, instead of the principal amount of the Notes, in addition to any accrued and unpaid interest, the number of shares of the Reference Stock equal to the Physical Delivery Amount, or at our election, the cash value of those shares. If we elect to deliver shares of the Reference Stock, fractional shares will be paid in cash. Investors in the Notes could lose some or all of their investment at maturity if there has been a decline in the trading price of the applicable Reference Stock.

Monitoring Period:	From and excluding the Pricing Date to and including the applicable Valuation Date.

Monitoring Method:	Close of Trading Day

Physical Delivery Amount:	For each $1,000 principal amount, a number of shares of the Reference Stock equal to the principal amount divided by the Initial Stock Price, subject to adjustment as described in the product prospectus supplement. If this number is not a round number, then the number of shares of the Reference Stock to be delivered will be rounded down and the fractional part shall be paid in cash.

Calculation Agent:	RBC Capital Markets, LLC

Secondary Market:	RBC Capital Markets, LLC (or one of its affiliates), though not obligated to do so, plans to maintain a secondary market in the Notes after the Issuance Date. The amount that an investor may receive upon sale of the Notes prior to maturity may be less than the principal amount of those Notes.

Listing:	None

Settlement:	DTC global notes

Terms Incorporated In the Master Note:	All of the terms appearing above the item captioned “Secondary Market” on the cover page and pages P2, P3 and P4 of this terms supplement and the terms appearing under the caption “General Terms of the Notes” in the product prospectus supplement.

RBC Capital Markets, LLC


		Reverse Convertible Notes Each Linked to a Single Reference Stock

ADDITIONAL TERMS OF YOUR NOTES

You should read this terms supplement together with the prospectus dated January 11, 2010, as supplemented by the prospectus supplement dated January 11, 2010 and the product prospectus supplement dated June 25, 2010, relating to our Senior Global Medium-Term Notes, Series D, of which these Notes are a part. Capitalized terms used but not defined in this terms supplement will have the meanings given to them in the product prospectus supplement. In the event of any conflict, this terms supplement will control. The Notes vary from the terms described in the product prospectus supplement in several important ways. You should read this terms supplement carefully.

This terms supplement, together with the documents listed below, contains the terms of the Notes and supersedes all prior or contemporaneous oral statements as well as any other written materials including preliminary or indicative pricing terms, correspondence, trade ideas, structures for implementation, sample structures, brochures or other educational materials of ours. You should carefully consider, among other things, the matters set forth in “Risk Factors” in the prospectus supplement dated January 11, 2010 and “Additional Risk Factors Specific to the Notes” in the product prospectus supplement dated June 25, 2010, as the Notes involve risks not associated with conventional debt securities. We urge you to consult your investment, legal, tax, accounting and other advisors before you invest in the Notes. You may access these documents on the SEC website at www.sec.gov as follows (or if that address has changed, by reviewing our filings for the relevant date on the SEC website):

Prospectus dated January 11, 2010:

http://www.sec.gov/Archives/edgar/data/1000275/000121465910000063/m18100424b3.htm

Prospectus Supplement dated January 11, 2010:

http://www.sec.gov/Archives/edgar/data/1000275/000121465910000064/f17102424b3.htm

Product Prospectus Supplement dated June 25, 2010:

http://www.sec.gov/Archives/edgar/data/1000275/000121465910001745/b61101424b5.htm

Our Central Index Key, or CIK, on the SEC Website is 1000275. As used in this terms supplement, the “Company,” “we,” “us,” or “our” refers to Royal Bank of Canada.

Royal Bank of Canada has filed a registration statement (including a product supplement, and prospectus supplement and a prospectus) with the Securities and Exchange Commission (the “SEC”) for the offering to which this document relates. Before you invest, you should read those documents and the other documents relating to this offering that Royal Bank of Canada has filed with the SEC for more complete information about Royal Bank of Canada and this offering. You may obtain these documents without cost by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, Royal Bank of Canada, any agent or any dealer participating in this offering will arrange to send you the product prospectus, the prospectus supplement and the prospectus if you so request by calling toll-free 866-609-6009.

RBC Capital Markets, LLC


		Reverse Convertible Notes Each Linked to a Single Reference Stock

HYPOTHETICAL EXAMPLES OF AMOUNTS PAYABLE AT MATURITY

The examples set forth below are provided for illustration purposes only. The assumptions in each of the examples are purely hypothetical and do not relate to the actual performance of any Reference Stock. The hypothetical terms do not represent the terms of an actual Note and do not purport to be representative of every possible scenario concerning increases or decreases in the price of the Reference Stock on the Valuation Date relative to its price on the Pricing Date. We cannot predict the actual performance of any Reference Stock.

The table below illustrates the Payment at Maturity of the Notes (excluding the final Coupon), assuming an Initial Stock Price of $100, a Barrier Price of 75% and an initial investment of $1,000. Hypothetical Final Stock Prices are shown in the first column on the left. For this purpose, we have assumed that there will be no anti-dilution adjustments to the Final Stock Price and no market disruption events. The second column shows the Payment at Maturity (as a percentage of the principal amount) in a case where the market price of the Reference Stock does not fall below the Barrier Price at any time during the Monitoring Period. The third column shows the Payment at Maturity (as a percentage of the principal amount) in a case where the market price of the Reference Stock does fall below the Barrier Price during the Monitoring Period. The fourth column shows the Physical Delivery Amount as a number of shares of the Reference Stock. The fifth column shows the Cash Delivery Amount, should we elect to deliver the Cash Delivery Amount instead of the Physical Delivery Amount.

Hypothetical Final Stock Price	If the closing market price of the Reference Stock does not fall below the Barrier Price on any day during the Monitoring Period: Payment at Maturity as Percentage of Principal Amount	If the closing market price of the Reference Stock falls below the Barrier Price on any day during the Monitoring Period: Payment at Maturity as Percentage of Principal Amount	Physical Delivery Amount as Number of Shares of the Reference Stock	Cash Delivery Amount
$200.00	100.00%	100.00%	n/a	n/a
$175.00	100.00%	100.00%	n/a	n/a
$150.00	100.00%	100.00%	n/a	n/a
$125.00	100.00%	100.00%	n/a	n/a
$100.00	100.00%	100.00%	n/a	n/a
$90.00	100.00%	Physical or Cash Delivery Amount	10	$900
$80.00	100.00%	Physical or Cash Delivery Amount	10	$800
$75.00	100.00%	Physical or Cash Delivery Amount	10	$750
$74.50	n/a	Physical or Cash Delivery Amount	10	$745
$60.00	n/a	Physical or Cash Delivery Amount	10	$600
$50.00	n/a	Physical or Cash Delivery Amount	10	$500
$25.00	n/a	Physical or Cash Delivery Amount	10	$250
$0.00	n/a	Physical or Cash Delivery Amount	10	$0.00

The Payments at Maturity shown above are entirely hypothetical; they are based on market prices for the Reference Stock that may not be achieved on the Valuation Date and on assumptions that may prove to be erroneous. The actual market value of your Notes on the Maturity Date or at any other time, including any time you may wish to sell your Notes, may bear little relation to the hypothetical Payments at Maturity shown above, and those amounts should not be viewed as an indication of the financial return on an investment in the Notes or on an investment in the Reference Stock. Please read “Additional Risk Factors Specific to Your Notes” and “Hypothetical Returns on Your Notes” in the accompanying product prospectus supplement.

RBC Capital Markets, LLC


		Reverse Convertible Notes Each Linked to a Single Reference Stock

Payments on your Notes are economically equivalent to the amounts that would be paid on a combination of other instruments. For example, payments on your Notes are economically equivalent to the amounts that would be paid on a combination of an interest-bearing bond purchased, and an option sold, by the investor (with an implicit option premium paid over time to the investor). The discussion in this paragraph does not modify or affect the terms of the offered Notes or the United States or Canadian income tax treatment of the offered Notes as described under “Supplemental Discussion of Canadian Tax Consequences” and “Supplemental Discussion of U.S. Federal Income Tax Consequences” in the accompanying product prospectus supplement.

SELECTED RISK CONSIDERATIONS

An investment in the Notes involves significant risks. Investing in the Notes is not equivalent to investing directly in the applicable Reference Stock. These risks are explained in more detail in the section “Additional Risk Factors Specific to Your Notes” in the product prospectus supplement. In addition to the risks described in the prospectus supplement and the product prospectus supplement, you should consider the following:

Principal at Risk — Investors in the Notes could lose some or a substantial value of their principal amount if there is a decline in the trading price of the Reference Stock between the pricing date and the valuation date. The rate of interest payable on the Notes, which will be payable for less than one year, may not be sufficient to compensate for any such loss.

Market Disruption Events and Adjustments —The payment at maturity and the valuation date are subject to adjustment as described in the product prospectus supplement. For a description of what constitutes a market disruption event as well as the consequences of that market disruption event, see “General Terms of the Notes—Consequences of Market Disruption Events” in the product prospectus supplement.

The Inclusion in the Purchase Price of the Notes of a Selling Concession and of Royal Bank’s Cost of Hedging its Market Risk under the Notes Will Adversely Affect the Value of the Notes Prior to Maturity — The price at which you purchase of the Notes includes a selling concession (including a broker’s commission), as well as the costs that Royal Bank (or one of its affiliates) expects to incur in the hedging of its market risk under the Notes. Such hedging costs include the expected cost of undertaking this hedge, as well as the profit that Royal Bank (or its affiliates) expects to realize in consideration for assuming the risks inherent in providing such hedge. As a result, assuming no change in market conditions or any other relevant factors, the price, if any, at which you may be able to sell your Notes prior to maturity may be less than your original purchase price. The Notes are not designed to be short-term trading instruments. Accordingly, you should be able and willing to hold your Notes to maturity.

RBC Capital Markets, LLC


		Reverse Convertible Notes Each Linked to a Single Reference Stock

CERTAIN U.S. FEDERAL INCOME TAX CONSIDERATIONS

RevCon 78008KUT8 (ACI): [ ]% of each stated interest payment (14.50% in total) will be treated as an interest payment and [ ]% of each stated interest payment will be treated as payment for the Put Option for U.S. federal income tax purposes.

RevCon 78008KUU5 (APOL): [ ]% of each stated interest payment (16.00% in total) will be treated as an interest payment and [ ]% of each stated interest payment will be treated as payment for the Put Option for U.S. federal income tax purposes.

RevCon 78008KUV3 (ATI): [ ]% of each stated interest payment (14.25% in total) will be treated as an interest payment and [ ]% of each stated interest payment will be treated as payment for the Put Option for U.S. federal income tax purposes.

RevCon 78008KUW1 (ATPG): [ ]% of each stated interest payment (15.75% in total) will be treated as an interest payment and [ ]% of each stated interest payment will be treated as payment for the Put Option for U.S. federal income tax purposes.

RevCon 78008KUX9 (BIDU): [ ]% of each stated interest payment (16.25% in total) will be treated as an interest payment and [ ]% of each stated interest payment will be treated as payment for the Put Option for U.S. federal income tax purposes.

RevCon 78008KUY7 (BX): [ ]% of each stated interest payment (10.50% in total) will be treated as an interest payment and [ ]% of each stated interest payment will be treated as payment for the Put Option for U.S. federal income tax purposes.

RevCon 78008KUZ4 (CHS): [ ]% of each stated interest payment (15.00% in total) will be treated as an interest payment and [ ]% of each stated interest payment will be treated as payment for the Put Option for U.S. federal income tax purposes.

RevCon 78008KVA8 (CNX): [ ]% of each stated interest payment (11.50% in total) will be treated as an interest payment and [ ]% of each stated interest payment will be treated as payment for the Put Option for U.S. federal income tax purposes.

RevCon 78008KVB6 (DAL): [ ]% of each stated interest payment (12.25% in total) will be treated as an interest payment and [ ]% of each stated interest payment will be treated as payment for the Put Option for U.S. federal income tax purposes.

RevCon 78008KVC4 (FCX): [ ]% of each stated interest payment (12.25% in total) will be treated as an interest payment and [ ]% of each stated interest payment will be treated as payment for the Put Option for U.S. federal income tax purposes.

RevCon 78008KVD2 (FITB): [ ]% of each stated interest payment (11.00% in total) will be treated as an interest payment and [ ]% of each stated interest payment will be treated as payment for the Put Option for U.S. federal income tax purposes.

RevCon 78008KVE0 (FSLR): [ ]% of each stated interest payment (14.75% in total) will be treated as an interest payment and [ ]% of each stated interest payment will be treated as payment for the Put Option for U.S. federal income tax purposes.

RevCon 78008KVF7 (GMCR): [ ]% of each stated interest payment (18.25% in total) will be treated as an interest payment and [ ]% of each stated interest payment will be treated as payment for the Put Option for U.S. federal income tax purposes.

RBC Capital Markets, LLC


		Reverse Convertible Notes Each Linked to a Single Reference Stock

RevCon 78008KVG5 (GNW): [ ]% of each stated interest payment (13.50% in total) will be treated as an interest payment and [ ]% of each stated interest payment will be treated as payment for the Put Option for U.S. federal income tax purposes.

RevCon 78008KVH3 (HIG): [ ]% of each stated interest payment (11.25% in total) will be treated as an interest payment and [ ]% of each stated interest payment will be treated as payment for the Put Option for U.S. federal income tax purposes.

RevCon 78008KVJ9 (HK): [ ]% of each stated interest payment (14.25% in total) will be treated as an interest payment and [ ]% of each stated interest payment will be treated as payment for the Put Option for U.S. federal income tax purposes.

RevCon 78008KVK6 (IMAX): [ ]% of each stated interest payment (12.25% in total) will be treated as an interest payment and [ ]% of each stated interest payment will be treated as payment for the Put Option for U.S. federal income tax purposes.

RevCon 78008KVL4 (IOC): [ ]% of each stated interest payment (20.50% in total) will be treated as an interest payment and [ ]% of each stated interest payment will be treated as payment for the Put Option for U.S. federal income tax purposes.

RevCon 78008KVM2 (JOYG): [ ]% of each stated interest payment (12.00% in total) will be treated as an interest payment and [ ]% of each stated interest payment will be treated as payment for the Put Option for U.S. federal income tax purposes.

RevCon 78008KVN0 (LCC): [ ]% of each stated interest payment (19.25% in total) will be treated as an interest payment and [ ]% of each stated interest payment will be treated as payment for the Put Option for U.S. federal income tax purposes.

RevCon 78008KVP5 (LVS): [ ]% of each stated interest payment (17.50% in total) will be treated as an interest payment and [ ]% of each stated interest payment will be treated as payment for the Put Option for U.S. federal income tax purposes.

RevCon 78008KVQ3 (MELI): [ ]% of each stated interest payment (13.00% in total) will be treated as an interest payment and [ ]% of each stated interest payment will be treated as payment for the Put Option for U.S. federal income tax purposes.

RevCon 78008KVR1 (MMR): [ ]% of each stated interest payment (15.75% in total) will be treated as an interest payment and [ ]% of each stated interest payment will be treated as payment for the Put Option for U.S. federal income tax purposes.

RevCon 78008KVS9 (NFLX): [ ]% of each stated interest payment (18.50% in total) will be treated as an interest payment and [ ]% of each stated interest payment will be treated as payment for the Put Option for U.S. federal income tax purposes.

RevCon 78008KVT7 (RAX): [ ]% of each stated interest payment (14.75% in total) will be treated as an interest payment and [ ]% of each stated interest payment will be treated as payment for the Put Option for U.S. federal income tax purposes.

RevCon 78008KVU4 (SVU): [ ]% of each stated interest payment (13.00% in total) will be treated as an interest payment and [ ]% of each stated interest payment will be treated as payment for the Put Option for U.S. federal income tax purposes.

RevCon 78008KVV2 (TIE): [ ]% of each stated interest payment (13.00% in total) will be treated as an interest payment and [ ]% of each stated interest payment will be treated as payment for the Put Option for U.S. federal income tax purposes.

RBC Capital Markets, LLC

P10


		Reverse Convertible Notes Each Linked to a Single Reference Stock

RevCon 78008KVW0 (TSL): [ ]% of each stated interest payment (18.75% in total) will be treated as an interest payment and [ ]% of each stated interest payment will be treated as payment for the Put Option for U.S. federal income tax purposes.

RevCon 78008KVX8 (TSO): [ ]% of each stated interest payment (11.75% in total) will be treated as an interest payment and [ ]% of each stated interest payment will be treated as payment for the Put Option for U.S. federal income tax purposes.

RevCon 78008KVY6 (WYNN): [ ]% of each stated interest payment (14.25% in total) will be treated as an interest payment and [ ]% of each stated interest payment will be treated as payment for the Put Option for U.S. federal income tax purposes.

RevCon 78008KVZ3 (X): [ ]% of each stated interest payment (13.00% in total) will be treated as an interest payment and [ ]% of each stated interest payment will be treated as payment for the Put Option for U.S. federal income tax purposes.

RevCon 78008KWA7 (AUY): [ ]% of each stated interest payment (10.75% in total) will be treated as an interest payment and [ ]% of each stated interest payment will be treated as payment for the Put Option for U.S. federal income tax purposes.

RevCon 78008KWB5 (BAC): [ ]% of each stated interest payment (12.25% in total) will be treated as an interest payment and [ ]% of each stated interest payment will be treated as payment for the Put Option for U.S. federal income tax purposes.

RevCon 78008KWC3 (BTU): [ ]% of each stated interest payment (11.75% in total) will be treated as an interest payment and [ ]% of each stated interest payment will be treated as payment for the Put Option for U.S. federal income tax purposes.

RevCon 78008KWD1 (F): [ ]% of each stated interest payment (11.25% in total) will be treated as an interest payment and [ ]% of each stated interest payment will be treated as payment for the Put Option for U.S. federal income tax purposes.

RevCon 78008KWE9 (RIMM): [ ]% of each stated interest payment (13.75% in total) will be treated as an interest payment and [ ]% of each stated interest payment will be treated as payment for the Put Option for U.S. federal income tax purposes.

RevCon 78008KWF6 (WFMI): [ ]% of each stated interest payment (10.25% in total) will be treated as an interest payment and [ ]% of each stated interest payment will be treated as payment for the Put Option for U.S. federal income tax purposes.

Please see the discussion (including the opinion of our counsel Morrison & Foerster LLP) in the product prospectus supplement dated June 25, 2010 under “Supplemental Discussion of U.S. Federal Income Tax Consequences,” which applies to your Notes.

RBC Capital Markets, LLC

P11


		Reverse Convertible Notes Each Linked to a Single Reference Stock

INFORMATION REGARDING THE ISSUERS OF THE REFERENCE STOCKS

Each Reference Stock is registered under the Securities Exchange Act of 1934 (the “Exchange Act”). Companies with securities registered under that Act are required to file periodically certain financial and other information specified by the Securities and Exchange Commission (the “SEC”). Information provided to or filed with the SEC can be inspected and copied at the public reference facilities maintained by the SEC or through the SEC’s website at www.sec.gov. In addition, information regarding each Reference Stock may be obtained from other sources including, but not limited to, press releases, newspaper articles and other publicly disseminated documents.

The following information regarding each issuer of the Reference Stocks is derived from publicly available information.

We make no representation or warranty as to the accuracy or completeness of reports filed by the issuer with the SEC, information published by it on its website or in any other format, information about it obtained from any other source or the information provided below.

Arch Coal, Inc. mines, processes, and markets low sulfur coal from surface, underground, and auger mines located in the western United States and in the central Appalachian region. The company markets its coal primarily to electric utilities.

Apollo Group, Inc. provides higher education programs for working adults. The company provides educational programs and services at the high school, undergraduate, and graduate levels online and on-campus through subsidiaries.

Allegheny Technologies, Inc., produces specialty materials. The company's products include titanium and titanium alloys, nickel-based alloys and superalloys, zirconium, hafnium and niobium, stainless and specialty steel alloys, grain-oriented electrical steel, tungsten-based materials and cutting tools, carbon alloy impression die forgings, and large grey and ductile iron.

ATP Oil & Gas Corporation acquires and develops natural gas and oil properties, and produces natural gas and crude oil, primarily in the outer continental shelf of the Gulf of Mexico. The company concentrates on proven undeveloped reserves which have not been strategic to major oil and gas exploration companies. ATP also operates in the shallow waters of the Gulf of Mexico and in the North Sea.

Baidu, Inc. operates an Internet search engine. The company offers algorithmic search, enterprise search, pay for performance and news, MP3, and image searches. This Reference Stock is an ADR that trades on the New York Stock Exchange.

The Blackstone Group L.P. is a global alternative asset manager and provider of financial advisory services. The firm's asset management businesses include the management of corporate private equity funds, real estate funds, mezzanine funds, proprietary hedge funds and closed-end mutual funds. The firm also provides M&A and reorganization advisory, as well as private placement services.

Chico's FAS, Inc. sells private label women's casual clothing and related accessories. The company's clothing includes tops, pants, shorts, skirts, and dresses. The company owns and operates stores throughout the United States.

RBC Capital Markets, LLC

P12


		Reverse Convertible Notes Each Linked to a Single Reference Stock

CONSOL Energy Inc. produces high-BTU bituminous coal, and also coalbed methane gas. The company primarily produces pipeline-quality coalbed methane gas from coal properties in the Northern and the Central Appalachian basin, other western basins, and oil and gas from properties in the Appalachian and Illinois Basins.

Delta Air Lines, Inc. provides scheduled air transportation for passengers, freight, and mail over a network of routes throughout the United States and internationally.

Freeport-McMoRan Copper & Gold Inc., through its subsidiary, is a copper, gold and molybdenum mining company. The company primarily mines for copper and owns mining interests in Chile and Indonesia. Freeport-McMoRan Copper & Gold also, through a subsidiary, is involved in smelting and refining of copper concentrates.

Fifth Third Bancorp is a diversified financial services company that operates banking centers in the Midwestern and Southeastern regions of the United States. The company's principal businesses include retail banking, commercial banking, investment advisory, and data processing.

First Solar, Inc. designs and manufactures solar modules. The company uses a thin film semiconductor technology to manufacture electricity-producing solar modules.

Green Mountain Coffee Roasters, Inc. roasts Arabica coffees and offers various coffee selections. The company’s products include single-origin, estate, certified organic, Fair Trade, signature blends, and flavored coffees sold under the Green Mountain Coffee Roasters brand. Green Mountain serves offices, supermarkets, and convenience stores, and operates a direct mail business.

Genworth Financial Inc. offers insurance, wealth management, investment and financial solutions The company offers products that include life insurance products, long-term care insurance, and mortgage guarantee insurance coverage on residential mortgage loans. Genworth is active in the United States, Canada, Australia, New Zealand, Mexico and multiple European countries.

The Hartford Financial Services Group, Inc. provides a range of insurance products. The company's products include property and casualty insurance, annuities, life insurance, investment services, and group insurance. Hartford Financial operates around the world.

Petrohawk Energy Corporation is an oil and gas company. The company participates in the exploration and production of natural gas and crude oil. The company's operations are currently focused in proven oil and gas producing trends primarily in South Texas, Louisiana, and Central California.

Imax Corporation designs and manufactures projection and sound systems for giant-screen theaters and designs custom attractions, including motion simulation theaters, for both large-scale attractions and smaller venues. The company also manufactures digital image delivery systems in the form of digital projectors.

InterOil Corporation is an integrated oil and gas company. The company produces jet fuel, diesel and gasoline for the domestic market and light naphtha and mixed naphtha for international markets. The companyl owns oil refinery, upstream petroleum exploration licenses and retail, and commercial distribution assets.

RBC Capital Markets, LLC

P13


		Reverse Convertible Notes Each Linked to a Single Reference Stock

Joy Global Inc. manufactures and markets underground mining equipment and surface mining equipment. The company's equipment is used for the extraction of ores and minerals.

US Airways Group, Inc. is an air carrier that transports passengers, property, and mail. The company provides regularly scheduled service at airports in the United States, Canada, Europe, the Caribbean, and Latin America.

Las Vegas Sands Corp. owns and operates casino resorts and convention centers. The company operates in United States, Macau and Singapore. Las Vegas Sand Corp's casino's offer a wide range of gaming activities and entertainment as well as overnight accommodations, while its expo centers host a wide range of entertainment shows, expositions, and other activities.

MercadoLibre Inc. operates an online trading site for the Latin American markets. The company's website allows businesses and individuals to list items and conduct sales and purchases online in either a fixed-price or auction format. MercadoLibre offers classified advertisements for motor vehicles, vessels, aircraft, real estate and services, and offers online payment services.

McMoRan Exploration Co. explores for and produces oil and gas offshore in the Gulf of Mexico and onshore in the Gulf Coast area.

Netflix Inc. is an online movie rental service. The company ships DVDs with no due dates or late fees, directly to the subscriber's address. Netflix also provides background information on DVD releases, including critic reviews, member reviews and ratings, and personalized movie recommendations.

Rackspace Hosting, Inc. delivers websites, web-based IT systems, and provides related services.

SUPERVALU Inc. operates a chain of supermarkets and pharmacies primarily in the United States. The company also provides supply chain services, which includes wholesale distribution and related logistics support services.

Titanium Metals Corporation produces titanium melted and mill products. The company’s products include titanium sponge, melted products, mill products and industrial fabrications which are used in aerospace, industrial, and emerging applications.

Trina Solar Limited manufactures solar-power products including photovoltaic wafers, ingots, cells and modules. The company's solar modules provide environmentally-friendly electric power for residential, commercial, industrial, and other applications worldwide. This Reference Stock is an ADR that trades on the New York Stock Exchange.

Tesoro Corporation refines and markets petroleum products, and provides transporting services. The company operates refineries, as well as a network of retail and refueling stations in the western United States. The company also markets gasoline and diesel fuel to independent marketers and commercial end users.

Wynn Resorts Limited owns and operates luxury hotels and destination casino resorts in Las Vegas, Nevada and in Macau, China. The resorts features guest rooms and suits, restaurants, golf courses, and on-site luxury automotive dealerships.

RBC Capital Markets, LLC

P14


		Reverse Convertible Notes Each Linked to a Single Reference Stock

United States Steel Corporation is an integrated steel producer with production operations in North America and Europe. The company's operations include coke production in both North America and Europe and iron ore pellets in North America, transportation services (railroad and barge operations), real estate operations, and engineering and consulting services in North America.

Yamana Gold Inc. is an intermediate gold producer with production, development stage, and exploration properties throughout Brazil. The company also holds gold exploration properties in Argentina.

Bank of America Corporation accepts deposits and offers banking, investing, asset management, and other financial and risk-management products and services. The company has a mortgage lending subsidiary, and an investment banking and securities brokerage subsidiary.

Peabody Energy Corporation mines and markets predominantly low sulfur coal, primarily for use by electric utilities. The Company also trades coal and emission allowances. The company owns and operates mines in Arizona, Colorado, New Mexico and Wyoming, Illinois, Indiana, and Australia. The company also owns a minority interest in a Venezuelan mine through a joint venture.

Ford Motor Company designs, manufactures, and services cars and trucks. The company also provides vehicle-related financing, leasing, and insurance through its subsidiary.

Research In Motion Limited designs, manufactures, and markets wireless solutions for the worldwide mobile communications market. The company provides platforms and solutions for access to email, phone, SMS messaging, Internet, and Intranet-based applications.

Whole Foods Market, Inc. owns and operates a chain of natural food supermarkets in the United States. The company's stores provides full range of merchandise, featuring products that are free of artificial flavors, sweeteners, colors, preservatives, and added chemicals. The companyalso develops, produces, and markets nutriceuticals and nutritional supplements.

RBC Capital Markets, LLC

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		Reverse Convertible Notes Each Linked to a Single Reference Stock

HISTORICAL INFORMATION

The following graphs set forth the recent historical performances of each of the Reference Stocks. In addition, below each graph is a table setting forth the intra-day high, intra-day low and period-end closing prices of each Reference Stock. The information provided in each table is for the four calendar quarters of 2007, 2008, 2009, as well as for the first three calendar quarters of 2010 and the period from October 1, 2010 to December 7, 2010. (No price provided in the table for a particular period indicates that such Reference Stock was not traded at such time.)

We obtained the information regarding the historical performance of the Reference Stocks in the charts below from Bloomberg Financial Markets.

We make no representation or warranty as to the accuracy or completeness of the information obtained from Bloomberg Financial Markets. The historical performance of the Reference Stocks should not be taken as an indication of future performance, and no assurance can be given as to the market prices of any Reference Stock on the applicable Valuation Date. We cannot give you assurance that the performance of any Reference Stock will not result in the loss of all or part of your investment.

RBC Capital Markets, LLC

P16


		Reverse Convertible Notes Each Linked to a Single Reference Stock

Period-Start Date	Period-End Date	High Intra-Day Price of the Reference Stock in ($)	Low Intra-Day Price of the Reference Stock in ($)	Period-End Closing Price of the Reference Stock in ($)
1/1/2007	3/30/2007	33.79	27.18	30.69
3/31/2007	6/29/2007	42.08	30.33	34.80
6/30/2007	9/28/2007	37.00	27.76	33.74
9/29/2007	12/31/2007	45.21	32.99	44.93

1/1/2008	3/31/2008	56.14	32.98	43.50
4/1/2008	6/30/2008	77.38	41.25	75.03
7/1/2008	9/30/2008	75.37	27.91	32.89
10/1/2008	12/31/2008	32.58	10.43	16.29

1/1/2009	3/31/2009	20.62	11.77	13.37
4/1/2009	6/30/2009	19.94	12.53	15.37
7/1/2009	9/30/2009	24.00	13.01	22.13
10/1/2009	12/31/2009	25.86	19.42	22.25

1/1/2010	3/31/2010	28.14	20.07	22.85
4/1/2010	6/30/2010	28.51	19.26	19.81
7/1/2010	9/30/2010	27.07	19.10	26.71
10/1/2010	12/7/2010	34.17	24.20	32.35

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

RBC Capital Markets, LLC

P17


		Reverse Convertible Notes Each Linked to a Single Reference Stock

Period-Start Date	Period-End Date	High Intra-Day Price of the Reference Stock in ($)	Low Intra-Day Price of the Reference Stock in ($)	Period-End Closing Price of the Reference Stock in ($)
1/1/2007	3/30/2007	48.85	39.02	43.90
3/31/2007	6/29/2007	58.45	42.59	58.43
6/30/2007	9/28/2007	65.49	53.50	60.15
9/29/2007	12/31/2007	80.75	60.03	70.15

1/1/2008	3/31/2008	81.68	37.92	43.20
4/1/2008	6/30/2008	55.64	42.32	44.26
7/1/2008	9/30/2008	68.48	43.79	59.30
10/1/2008	12/31/2008	78.61	48.32	76.62

1/1/2009	3/31/2009	90.00	61.99	78.33
4/1/2009	6/30/2009	72.50	55.35	71.12
7/1/2009	9/30/2009	74.75	62.85	73.67
10/1/2009	12/31/2009	76.86	52.79	60.58

1/1/2010	3/31/2010	65.72	55.25	61.29
4/1/2010	6/30/2010	66.67	42.41	42.47
7/1/2010	9/30/2010	53.60	38.39	51.35
10/1/2010	12/7/2010	53.60	33.76	36.97

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

RBC Capital Markets, LLC

P18


		Reverse Convertible Notes Each Linked to a Single Reference Stock

Period-Start Date	Period-End Date	High Intra-Day Price of the Reference Stock in ($)	Low Intra-Day Price of the Reference Stock in ($)	Period-End Closing Price of the Reference Stock in ($)
1/1/2007	3/30/2007	110.00	85.10	106.69
3/31/2007	6/29/2007	119.65	99.17	104.88
6/30/2007	9/28/2007	116.25	80.00	109.95
9/29/2007	12/31/2007	115.51	82.59	86.40

1/1/2008	3/31/2008	87.32	59.02	71.36
4/1/2008	6/30/2008	84.95	58.40	59.28
7/1/2008	9/30/2008	58.75	26.65	29.55
10/1/2008	12/31/2008	29.74	15.00	25.53

1/1/2009	3/31/2009	31.82	16.92	21.93
4/1/2009	6/30/2009	44.07	21.22	34.93
7/1/2009	9/30/2009	36.94	25.80	34.99
10/1/2009	12/31/2009	46.30	29.62	44.77

1/1/2010	3/31/2010	56.16	39.03	53.99
4/1/2010	6/30/2010	58.25	44.02	44.19
7/1/2010	9/30/2010	53.37	39.37	46.45
10/1/2010	12/7/2010	56.85	45.19	53.31

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

RBC Capital Markets, LLC

P19


		Reverse Convertible Notes Each Linked to a Single Reference Stock

Period-Start Date	Period-End Date	High Intra-Day Price of the Reference Stock in ($)	Low Intra-Day Price of the Reference Stock in ($)	Period-End Closing Price of the Reference Stock in ($)
1/1/2007	3/30/2007	43.65	35.15	37.60
3/31/2007	6/29/2007	49.00	37.46	48.64
6/30/2007	9/28/2007	49.39	38.44	47.03
9/29/2007	12/31/2007	57.58	43.21	50.54

1/1/2008	3/31/2008	52.25	28.89	32.72
4/1/2008	6/30/2008	47.35	26.55	39.47
7/1/2008	9/30/2008	41.50	16.17	17.81
10/1/2008	12/31/2008	18.69	3.89	5.85

1/1/2009	3/31/2009	7.92	2.75	5.13
4/1/2009	6/30/2009	10.16	4.84	6.96
7/1/2009	9/30/2009	22.98	5.22	17.89
10/1/2009	12/31/2009	21.87	14.40	18.28

1/1/2010	3/31/2010	20.57	12.72	18.81
4/1/2010	6/30/2010	23.97	8.16	10.59
7/1/2010	9/30/2010	14.72	8.85	13.65
10/1/2010	12/7/2010	17.44	13.06	15.51

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

RBC Capital Markets, LLC

P20


		Reverse Convertible Notes Each Linked to a Single Reference Stock

Period-Start Date	Period-End Date	High Intra-Day Price of the Reference Stock in ($)	Low Intra-Day Price of the Reference Stock in ($)	Period-End Closing Price of the Reference Stock in ($)
1/1/2007	3/30/2007	13.41	9.35	9.66
3/31/2007	6/29/2007	17.20	9.28	16.80
6/30/2007	9/28/2007	30.44	16.10	28.97
9/29/2007	12/31/2007	42.92	28.07	39.04

1/1/2008	3/31/2008	39.77	20.12	23.96
4/1/2008	6/30/2008	38.29	24.30	31.30
7/1/2008	9/30/2008	35.34	22.70	24.82
10/1/2008	12/31/2008	27.48	10.05	13.06

1/1/2009	3/31/2009	19.77	10.50	17.66
4/1/2009	6/30/2009	31.00	17.10	30.11
7/1/2009	9/30/2009	40.80	26.80	39.11
10/1/2009	12/31/2009	44.33	35.30	41.12

1/1/2010	3/31/2010	62.85	38.48	59.70
4/1/2010	6/30/2010	82.29	59.70	68.08
7/1/2010	9/30/2010	107.19	65.90	102.62
10/1/2010	12/7/2010	115.04	95.12	109.68

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

RBC Capital Markets, LLC

P21


		Reverse Convertible Notes Each Linked to a Single Reference Stock

Period-Start Date	Period-End Date	High Intra-Day Price of the Reference Stock in ($)	Low Intra-Day Price of the Reference Stock in ($)	Period-End Closing Price of the Reference Stock in ($)
3/31/2007	6/29/2007	38.00	28.75	29.27
6/30/2007	9/28/2007	31.99	21.30	25.08
9/29/2007	12/31/2007	29.75	20.40	22.13

1/1/2008	3/31/2008	22.25	13.40	15.88
4/1/2008	6/30/2008	20.97	15.92	18.21
7/1/2008	9/30/2008	19.49	14.00	15.34
10/1/2008	12/31/2008	15.95	4.16	6.53

1/1/2009	3/31/2009	9.19	3.55	7.25
4/1/2009	6/30/2009	14.44	6.92	10.54
7/1/2009	9/30/2009	15.35	8.54	14.20
10/1/2009	12/31/2009	17.22	12.71	13.12

1/1/2010	3/31/2010	15.10	12.03	14.00
4/1/2010	6/30/2010	15.48	9.34	9.56
7/1/2010	9/30/2010	12.72	8.93	12.69
10/1/2010	12/7/2010	14.43	12.31	13.98

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

RBC Capital Markets, LLC

P22


		Reverse Convertible Notes Each Linked to a Single Reference Stock

Period-Start Date	Period-End Date	High Intra-Day Price of the Reference Stock in ($)	Low Intra-Day Price of the Reference Stock in ($)	Period-End Closing Price of the Reference Stock in ($)
1/1/2007	3/30/2007	25.17	20.07	24.43
3/31/2007	6/29/2007	27.94	23.84	24.34
6/30/2007	9/28/2007	25.09	13.95	14.05
9/29/2007	12/31/2007	15.84	9.00	9.03

1/1/2008	3/31/2008	10.90	6.70	7.11
4/1/2008	6/30/2008	8.18	5.34	5.37
7/1/2008	9/30/2008	7.99	4.26	5.47
10/1/2008	12/31/2008	5.51	1.74	4.18

1/1/2009	3/31/2009	5.52	3.38	5.37
4/1/2009	6/30/2009	10.71	5.15	9.73
7/1/2009	9/30/2009	13.80	8.29	13.00
10/1/2009	12/31/2009	15.42	11.77	14.05

1/1/2010	3/31/2010	15.12	12.45	14.42
4/1/2010	6/30/2010	16.56	9.70	9.88
7/1/2010	9/30/2010	11.00	8.22	10.52
10/1/2010	12/7/2010	12.89	9.53	12.36

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

RBC Capital Markets, LLC

P23


		Reverse Convertible Notes Each Linked to a Single Reference Stock

Period-Start Date	Period-End Date	High Intra-Day Price of the Reference Stock in ($)	Low Intra-Day Price of the Reference Stock in ($)	Period-End Closing Price of the Reference Stock in ($)
1/1/2007	3/30/2007	39.65	29.15	39.13
3/31/2007	6/29/2007	49.85	38.89	46.11
6/30/2007	9/28/2007	50.21	34.37	46.60
9/29/2007	12/31/2007	74.18	45.04	71.52

1/1/2008	3/31/2008	84.18	53.66	69.19
4/1/2008	6/30/2008	119.10	67.33	112.37
7/1/2008	9/30/2008	112.21	36.25	45.89
10/1/2008	12/31/2008	44.13	18.51	28.58

1/1/2009	3/31/2009	37.61	22.49	25.24
4/1/2009	6/30/2009	44.11	24.05	33.96
7/1/2009	9/30/2009	49.84	28.61	45.11
10/1/2009	12/31/2009	53.50	42.18	49.80

1/1/2010	3/31/2010	57.93	41.81	42.66
4/1/2010	6/30/2010	46.94	32.52	33.76
7/1/2010	9/30/2010	39.82	31.08	36.96
10/1/2010	12/7/2010	46.99	36.16	44.70

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

RBC Capital Markets, LLC

P24


		Reverse Convertible Notes Each Linked to a Single Reference Stock

Period-Start Date	Period-End Date	High Intra-Day Price of the Reference Stock in ($)	Low Intra-Day Price of the Reference Stock in ($)	Period-End Closing Price of the Reference Stock in ($)
3/31/2007	6/29/2007	23.25	18.02	19.70
6/30/2007	9/28/2007	21.80	14.94	17.95
9/29/2007	12/31/2007	21.10	14.04	14.89

1/1/2008	3/31/2008	18.97	7.94	8.60
4/1/2008	6/30/2008	10.75	4.84	5.70
7/1/2008	9/30/2008	10.26	4.00	7.45
10/1/2008	12/31/2008	11.90	5.11	11.46

1/1/2009	3/31/2009	12.65	3.52	5.63
4/1/2009	6/30/2009	8.27	5.31	5.79
7/1/2009	9/30/2009	9.88	5.56	8.96
10/1/2009	12/31/2009	12.08	6.78	11.38

1/1/2010	3/31/2010	14.90	10.93	14.59
4/1/2010	6/30/2010	14.94	10.90	11.75
7/1/2010	9/30/2010	12.80	9.60	11.64
10/1/2010	12/7/2010	14.54	10.96	13.12

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

RBC Capital Markets, LLC

P25


		Reverse Convertible Notes Each Linked to a Single Reference Stock

Period-Start Date	Period-End Date	High Intra-Day Price of the Reference Stock in ($)	Low Intra-Day Price of the Reference Stock in ($)	Period-End Closing Price of the Reference Stock in ($)
1/1/2007	3/30/2007	67.19	48.98	66.19
3/31/2007	6/29/2007	85.50	65.62	82.82
6/30/2007	9/28/2007	110.48	67.08	104.89
9/29/2007	12/31/2007	120.20	85.71	102.44

1/1/2008	3/31/2008	107.37	69.10	96.22
4/1/2008	6/30/2008	127.23	93.00	117.19
7/1/2008	9/30/2008	117.08	51.24	56.85
10/1/2008	12/31/2008	56.20	15.70	24.44

1/1/2009	3/31/2009	43.45	21.17	38.11
4/1/2009	6/30/2009	61.55	36.60	50.11
7/1/2009	9/30/2009	73.43	43.19	68.61
10/1/2009	12/31/2009	87.35	63.01	80.29

1/1/2010	3/31/2010	90.55	66.04	83.54
4/1/2010	6/30/2010	88.30	58.24	59.13
7/1/2010	9/30/2010	87.92	56.71	85.39
10/1/2010	12/7/2010	114.24	86.37	110.63

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

RBC Capital Markets, LLC

P26


		Reverse Convertible Notes Each Linked to a Single Reference Stock

Period-Start Date	Period-End Date	High Intra-Day Price of the Reference Stock in ($)	Low Intra-Day Price of the Reference Stock in ($)	Period-End Closing Price of the Reference Stock in ($)
1/1/2007	3/30/2007	41.41	37.93	38.69
3/31/2007	6/29/2007	43.32	37.88	39.77
6/30/2007	9/28/2007	41.17	33.60	33.88
9/29/2007	12/31/2007	35.33	24.82	25.13

1/1/2008	3/31/2008	28.58	20.25	20.92
4/1/2008	6/30/2008	23.75	8.96	10.18
7/1/2008	9/30/2008	21.00	7.96	11.90
10/1/2008	12/31/2008	14.75	6.33	8.26

1/1/2009	3/31/2009	8.65	1.01	2.92
4/1/2009	6/30/2009	9.15	2.50	7.10
7/1/2009	9/30/2009	11.20	6.34	10.13
10/1/2009	12/31/2009	10.90	8.76	9.75

1/1/2010	3/31/2010	14.04	9.82	13.59
4/1/2010	6/30/2010	15.95	12.00	12.29
7/1/2010	9/30/2010	13.81	10.65	12.03
10/1/2010	12/7/2010	13.93	11.71	13.08

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

RBC Capital Markets, LLC

P27


		Reverse Convertible Notes Each Linked to a Single Reference Stock

Period-Start Date	Period-End Date	High Intra-Day Price of the Reference Stock in ($)	Low Intra-Day Price of the Reference Stock in ($)	Period-End Closing Price of the Reference Stock in ($)
1/1/2007	3/30/2007	59.88	27.54	52.01
3/31/2007	6/29/2007	91.10	52.10	89.29
6/30/2007	9/28/2007	123.21	74.77	117.74
9/29/2007	12/31/2007	283.00	119.95	267.14

1/1/2008	3/31/2008	272.47	143.34	231.14
4/1/2008	6/30/2008	317.00	232.20	272.82
7/1/2008	9/30/2008	301.30	176.07	188.91
10/1/2008	12/31/2008	202.88	85.28	137.96

1/1/2009	3/31/2009	165.20	100.93	132.70
4/1/2009	6/30/2009	207.51	129.90	162.12
7/1/2009	9/30/2009	176.00	112.12	152.86
10/1/2009	12/31/2009	162.20	115.09	135.40

1/1/2010	3/31/2010	142.46	98.71	122.65
4/1/2010	6/30/2010	152.53	100.20	113.83
7/1/2010	9/30/2010	151.39	112.06	147.35
10/1/2010	12/7/2010	152.74	120.92	130.98

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

RBC Capital Markets, LLC

P28


		Reverse Convertible Notes Each Linked to a Single Reference Stock

Period-Start Date	Period-End Date	High Intra-Day Price of the Reference Stock in ($)	Low Intra-Day Price of the Reference Stock in ($)	Period-End Closing Price of the Reference Stock in ($)
1/1/2007	3/30/2007	4.85	3.64	4.67
3/31/2007	6/29/2007	6.05	4.49	5.83
6/30/2007	9/28/2007	9.54	5.79	7.38
9/29/2007	12/31/2007	9.33	6.58	9.04

1/1/2008	3/31/2008	9.29	5.56	7.03
4/1/2008	6/30/2008	9.94	6.47	8.35
7/1/2008	9/30/2008	9.33	6.99	8.74
10/1/2008	12/31/2008	9.11	5.19	8.60

1/1/2009	3/31/2009	11.22	7.13	10.67
4/1/2009	6/30/2009	21.21	10.19	19.71
7/1/2009	9/30/2009	25.29	17.76	24.61
10/1/2009	12/31/2009	27.65	19.87	27.16

1/1/2010	3/31/2010	32.83	26.04	32.27
4/1/2010	6/30/2010	33.20	21.85	25.70
7/1/2010	9/30/2010	37.95	24.84	31.19
10/1/2010	12/7/2010	38.86	26.14	37.72

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

RBC Capital Markets, LLC

P29


		Reverse Convertible Notes Each Linked to a Single Reference Stock

Period-Start Date	Period-End Date	High Intra-Day Price of the Reference Stock in ($)	Low Intra-Day Price of the Reference Stock in ($)	Period-End Closing Price of the Reference Stock in ($)
1/1/2007	3/30/2007	37.16	33.69	34.94
3/31/2007	6/29/2007	37.00	34.05	34.40
6/30/2007	9/28/2007	35.20	26.50	30.73
9/29/2007	12/31/2007	31.99	23.26	25.45

1/1/2008	3/31/2008	25.57	19.75	22.64
4/1/2008	6/30/2008	24.88	17.70	17.81
7/1/2008	9/30/2008	19.60	3.51	8.61
10/1/2008	12/31/2008	8.32	0.71	2.83

1/1/2009	3/31/2009	3.38	0.78	1.90
4/1/2009	6/30/2009	7.41	1.76	6.99
7/1/2009	9/30/2009	13.68	5.02	11.95
10/1/2009	12/31/2009	12.40	8.38	11.35

1/1/2010	3/31/2010	18.70	11.52	18.34
4/1/2010	6/30/2010	19.36	12.98	13.07
7/1/2010	9/30/2010	16.10	10.26	12.22
10/1/2010	12/7/2010	13.72	10.62	12.68

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

RBC Capital Markets, LLC

P30


		Reverse Convertible Notes Each Linked to a Single Reference Stock

Period-Start Date	Period-End Date	High Intra-Day Price of the Reference Stock in ($)	Low Intra-Day Price of the Reference Stock in ($)	Period-End Closing Price of the Reference Stock in ($)
1/1/2007	3/30/2007	97.95	90.30	95.58
3/31/2007	6/29/2007	106.23	94.89	98.51
6/30/2007	9/28/2007	100.54	83.00	92.55
9/29/2007	12/31/2007	99.14	86.37	87.19

1/1/2008	3/31/2008	87.88	63.98	75.77
4/1/2008	6/30/2008	79.88	64.41	64.57
7/1/2008	9/30/2008	68.35	31.50	40.99
10/1/2008	12/31/2008	39.74	4.16	16.42

1/1/2009	3/31/2009	19.91	3.33	7.85
4/1/2009	6/30/2009	18.16	7.16	11.87
7/1/2009	9/30/2009	29.00	10.00	26.50
10/1/2009	12/31/2009	29.59	22.89	23.26

1/1/2010	3/31/2010	29.12	21.60	28.42
4/1/2010	6/30/2010	30.45	21.85	22.13
7/1/2010	9/30/2010	24.27	18.81	22.95
10/1/2010	12/7/2010	26.78	22.25	24.15

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

RBC Capital Markets, LLC

P31


		Reverse Convertible Notes Each Linked to a Single Reference Stock

Period-Start Date	Period-End Date	High Intra-Day Price of the Reference Stock in ($)	Low Intra-Day Price of the Reference Stock in ($)	Period-End Closing Price of the Reference Stock in ($)
1/1/2007	3/30/2007	13.46	11.95	13.17
3/31/2007	6/29/2007	17.23	12.87	15.86
6/30/2007	9/28/2007	17.07	13.65	16.42
9/29/2007	12/31/2007	19.11	15.55	17.31

1/1/2008	3/31/2008	20.47	14.33	20.17
4/1/2008	6/30/2008	48.50	19.55	46.31
7/1/2008	9/30/2008	53.41	17.55	21.63
10/1/2008	12/31/2008	21.66	8.50	15.63

1/1/2009	3/31/2009	22.87	14.89	19.23
4/1/2009	6/30/2009	26.90	18.50	22.30
7/1/2009	9/30/2009	25.81	18.01	24.21
10/1/2009	12/31/2009	28.46	20.45	23.99

1/1/2010	3/31/2010	27.36	18.99	20.28
4/1/2010	6/30/2010	23.80	16.55	16.97
7/1/2010	9/30/2010	18.38	14.32	16.14
10/1/2010	12/7/2010	19.93	16.04	18.84

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

RBC Capital Markets, LLC

P32


		Reverse Convertible Notes Each Linked to a Single Reference Stock

Period-Start Date	Period-End Date	High Intra-Day Price of the Reference Stock in ($)	Low Intra-Day Price of the Reference Stock in ($)	Period-End Closing Price of the Reference Stock in ($)
1/1/2007	3/30/2007	5.52	3.61	5.04
3/31/2007	6/29/2007	5.68	4.06	4.22
6/30/2007	9/28/2007	5.21	3.72	4.20
9/29/2007	12/31/2007	7.94	4.05	6.82

1/1/2008	3/31/2008	7.39	5.27	6.97
4/1/2008	6/30/2008	7.74	6.45	6.84
7/1/2008	9/30/2008	8.28	5.65	5.92
10/1/2008	12/31/2008	5.94	2.42	4.46

1/1/2009	3/31/2009	5.49	3.78	4.31
4/1/2009	6/30/2009	8.49	4.28	8.12
7/1/2009	9/30/2009	10.13	7.14	9.41
10/1/2009	12/31/2009	13.87	9.00	13.30

1/1/2010	3/31/2010	18.25	11.50	17.99
4/1/2010	6/30/2010	21.29	14.28	14.60
7/1/2010	9/30/2010	17.25	12.11	16.86
10/1/2010	12/7/2010	27.68	16.95	26.62

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

RBC Capital Markets, LLC

P33


		Reverse Convertible Notes Each Linked to a Single Reference Stock

Period-Start Date	Period-End Date	High Intra-Day Price of the Reference Stock in ($)	Low Intra-Day Price of the Reference Stock in ($)	Period-End Closing Price of the Reference Stock in ($)
1/1/2009	3/31/2009	29.00	28.00	28.00
4/1/2009	6/30/2009	38.10	24.37	29.51
7/1/2009	9/30/2009	41.90	25.00	39.28
10/1/2009	12/31/2009	78.43	37.09	76.81

1/1/2010	3/31/2010	84.05	57.18	64.80
4/1/2010	6/30/2010	81.00	41.67	44.41
7/1/2010	9/30/2010	72.90	44.50	68.44
10/1/2010	12/7/2010	81.98	64.66	78.28

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

RBC Capital Markets, LLC

P34


		Reverse Convertible Notes Each Linked to a Single Reference Stock

Period-Start Date	Period-End Date	High Intra-Day Price of the Reference Stock in ($)	Low Intra-Day Price of the Reference Stock in ($)	Period-End Closing Price of the Reference Stock in ($)
1/1/2007	3/30/2007	55.80	40.36	42.90
3/31/2007	6/29/2007	61.99	42.43	58.33
6/30/2007	9/28/2007	65.50	42.10	50.86
9/29/2007	12/31/2007	67.57	48.76	65.82

1/1/2008	3/31/2008	72.00	47.97	65.16
4/1/2008	6/30/2008	89.98	62.76	75.83
7/1/2008	9/30/2008	78.55	35.82	45.14
10/1/2008	12/31/2008	44.70	14.30	22.89

1/1/2009	3/31/2009	28.06	15.38	21.30
4/1/2009	6/30/2009	42.25	20.29	35.72
7/1/2009	9/30/2009	50.56	30.21	48.94
10/1/2009	12/31/2009	59.27	43.81	51.59

1/1/2010	3/31/2010	61.28	42.47	56.60
4/1/2010	6/30/2010	65.93	44.25	50.09
7/1/2010	9/30/2010	72.00	48.05	70.32
10/1/2010	12/7/2010	81.80	67.72	79.14

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

RBC Capital Markets, LLC

P35


		Reverse Convertible Notes Each Linked to a Single Reference Stock

Period-Start Date	Period-End Date	High Intra-Day Price of the Reference Stock in ($)	Low Intra-Day Price of the Reference Stock in ($)	Period-End Closing Price of the Reference Stock in ($)
1/1/2007	3/30/2007	62.50	44.01	45.48
3/31/2007	6/29/2007	48.30	26.78	30.27
6/30/2007	9/28/2007	36.19	24.26	26.25
9/29/2007	12/31/2007	33.34	14.41	14.71

1/1/2008	3/31/2008	16.44	7.24	8.91
4/1/2008	6/30/2008	9.94	2.30	2.50
7/1/2008	9/30/2008	10.13	1.45	6.03
10/1/2008	12/31/2008	11.23	3.16	7.73

1/1/2009	3/31/2009	9.66	1.88	2.53
4/1/2009	6/30/2009	5.35	2.12	2.43
7/1/2009	9/30/2009	5.60	2.00	4.70
10/1/2009	12/31/2009	5.40	2.82	4.84

1/1/2010	3/31/2010	8.17	4.47	7.35
4/1/2010	6/30/2010	10.87	5.71	8.61
7/1/2010	9/30/2010	11.40	8.02	9.25
10/1/2010	12/7/2010	12.25	8.94	10.55

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

RBC Capital Markets, LLC

P36


		Reverse Convertible Notes Each Linked to a Single Reference Stock

Period-Start Date	Period-End Date	High Intra-Day Price of the Reference Stock in ($)	Low Intra-Day Price of the Reference Stock in ($)	Period-End Closing Price of the Reference Stock in ($)
1/1/2007	3/30/2007	109.45	81.01	86.61
3/31/2007	6/29/2007	91.91	71.24	76.39
6/30/2007	9/28/2007	142.75	75.56	133.42
9/29/2007	12/31/2007	148.76	102.50	103.05

1/1/2008	3/31/2008	105.35	70.00	73.64
4/1/2008	6/30/2008	83.13	45.30	47.44
7/1/2008	9/30/2008	59.00	30.56	36.11
10/1/2008	12/31/2008	37.00	2.89	5.93

1/1/2009	3/31/2009	9.15	1.38	3.01
4/1/2009	6/30/2009	11.84	3.08	7.86
7/1/2009	9/30/2009	20.73	6.32	16.84
10/1/2009	12/31/2009	18.83	12.95	14.94

1/1/2010	3/31/2010	22.49	14.89	21.15
4/1/2010	6/30/2010	27.84	18.09	22.14
7/1/2010	9/30/2010	35.87	20.73	34.85
10/1/2010	12/7/2010	55.46	34.61	47.59

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

RBC Capital Markets, LLC

P37


		Reverse Convertible Notes Each Linked to a Single Reference Stock

Period-Start Date	Period-End Date	High Intra-Day Price of the Reference Stock in ($)	Low Intra-Day Price of the Reference Stock in ($)	Period-End Closing Price of the Reference Stock in ($)
6/30/2007	9/28/2007	41.30	22.00	36.63
9/29/2007	12/31/2007	81.15	32.67	73.88

1/1/2008	3/31/2008	76.80	31.04	39.76
4/1/2008	6/30/2008	57.68	33.13	34.49
7/1/2008	9/30/2008	38.50	17.11	20.35
10/1/2008	12/31/2008	23.15	7.91	16.41

1/1/2009	3/31/2009	20.45	11.70	18.55
4/1/2009	6/30/2009	29.58	18.17	26.88
7/1/2009	9/30/2009	39.87	22.88	38.46
10/1/2009	12/31/2009	55.72	34.82	51.87

1/1/2010	3/31/2010	52.37	35.50	48.21
4/1/2010	6/30/2010	62.14	41.01	52.55
7/1/2010	9/30/2010	76.81	49.56	72.18
10/1/2010	12/7/2010	73.52	56.64	68.80

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

RBC Capital Markets, LLC

P38


		Reverse Convertible Notes Each Linked to a Single Reference Stock

Period-Start Date	Period-End Date	High Intra-Day Price of the Reference Stock in ($)	Low Intra-Day Price of the Reference Stock in ($)	Period-End Closing Price of the Reference Stock in ($)
1/1/2007	3/30/2007	15.53	11.03	13.71
3/31/2007	6/29/2007	15.72	12.51	14.00
6/30/2007	9/28/2007	17.93	12.96	13.45
9/29/2007	12/31/2007	15.80	10.72	13.09

1/1/2008	3/31/2008	18.44	12.50	17.29
4/1/2008	6/30/2008	35.50	17.50	27.52
7/1/2008	9/30/2008	29.85	19.58	23.64
10/1/2008	12/31/2008	23.25	7.39	9.80

1/1/2009	3/31/2009	12.35	3.14	4.70
4/1/2009	6/30/2009	7.71	4.26	5.96
7/1/2009	9/30/2009	9.35	4.72	7.55
10/1/2009	12/31/2009	9.78	6.77	8.02

1/1/2010	3/31/2010	18.79	8.21	14.63
4/1/2010	6/30/2010	17.10	8.63	11.11
7/1/2010	9/30/2010	18.03	9.95	17.21
10/1/2010	12/7/2010	19.80	14.18	15.78

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

RBC Capital Markets, LLC

P39


		Reverse Convertible Notes Each Linked to a Single Reference Stock

Period-Start Date	Period-End Date	High Intra-Day Price of the Reference Stock in ($)	Low Intra-Day Price of the Reference Stock in ($)	Period-End Closing Price of the Reference Stock in ($)
1/1/2007	3/30/2007	26.80	20.30	23.19
3/31/2007	6/29/2007	25.99	19.05	19.39
6/30/2007	9/28/2007	22.09	15.62	20.72
9/29/2007	12/31/2007	29.14	20.60	26.62

1/1/2008	3/31/2008	39.65	20.38	34.65
4/1/2008	6/30/2008	40.90	26.05	26.07
7/1/2008	9/30/2008	33.97	26.40	30.88
10/1/2008	12/31/2008	30.66	17.90	29.89

1/1/2009	3/31/2009	44.40	28.78	42.92
4/1/2009	6/30/2009	50.24	36.25	41.34
7/1/2009	9/30/2009	48.20	37.93	46.17
10/1/2009	12/31/2009	61.65	44.31	55.14

1/1/2010	3/31/2010	75.65	48.52	73.74
4/1/2010	6/30/2010	127.95	73.62	108.65
7/1/2010	9/30/2010	174.38	95.33	162.16
10/1/2010	12/7/2010	209.24	147.39	189.81

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

RBC Capital Markets, LLC

P40


		Reverse Convertible Notes Each Linked to a Single Reference Stock

Period-Start Date	Period-End Date	High Intra-Day Price of the Reference Stock in ($)	Low Intra-Day Price of the Reference Stock in ($)	Period-End Closing Price of the Reference Stock in ($)
7/1/2008	9/30/2008	11.95	8.14	9.77
10/1/2008	12/31/2008	9.50	4.47	5.38

1/1/2009	3/31/2009	7.99	4.24	7.49
4/1/2009	6/30/2009	14.87	7.23	13.86
7/1/2009	9/30/2009	18.62	11.88	17.06
10/1/2009	12/31/2009	23.50	16.17	20.85

1/1/2010	3/31/2010	23.36	16.45	18.73
4/1/2010	6/30/2010	21.36	15.16	18.34
7/1/2010	9/30/2010	26.49	16.21	25.98
10/1/2010	12/7/2010	31.42	21.95	30.15

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

RBC Capital Markets, LLC

P41


		Reverse Convertible Notes Each Linked to a Single Reference Stock

Period-Start Date	Period-End Date	High Intra-Day Price of the Reference Stock in ($)	Low Intra-Day Price of the Reference Stock in ($)	Period-End Closing Price of the Reference Stock in ($)
1/1/2007	3/30/2007	39.63	34.46	39.07
3/31/2007	6/29/2007	49.29	38.55	46.32
6/30/2007	9/28/2007	49.78	37.03	39.01
9/29/2007	12/31/2007	43.30	35.02	37.52

1/1/2008	3/31/2008	37.43	26.02	29.98
4/1/2008	6/30/2008	35.91	28.98	30.89
7/1/2008	9/30/2008	32.89	20.82	21.70
10/1/2008	12/31/2008	22.30	8.77	14.60

1/1/2009	3/31/2009	20.38	13.72	14.28
4/1/2009	6/30/2009	17.93	12.81	12.95
7/1/2009	9/30/2009	16.43	12.13	15.06
10/1/2009	12/31/2009	17.58	12.41	12.71

1/1/2010	3/31/2010	17.89	12.60	16.68
4/1/2010	6/30/2010	17.46	10.82	10.84
7/1/2010	9/30/2010	11.97	9.67	11.53
10/1/2010	12/7/2010	12.45	8.20	8.33

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

RBC Capital Markets, LLC

P42


		Reverse Convertible Notes Each Linked to a Single Reference Stock

Period-Start Date	Period-End Date	High Intra-Day Price of the Reference Stock in ($)	Low Intra-Day Price of the Reference Stock in ($)	Period-End Closing Price of the Reference Stock in ($)
1/1/2007	3/30/2007	38.85	27.74	35.88
3/31/2007	6/29/2007	39.80	30.31	31.90
6/30/2007	9/28/2007	35.32	25.75	33.56
9/29/2007	12/31/2007	36.50	25.27	26.45

1/1/2008	3/31/2008	26.78	13.29	15.05
4/1/2008	6/30/2008	19.65	13.33	13.99
7/1/2008	9/30/2008	14.90	9.80	11.34
10/1/2008	12/31/2008	11.29	5.31	8.81

1/1/2009	3/31/2009	9.78	4.04	5.47
4/1/2009	6/30/2009	11.52	5.25	9.19
7/1/2009	9/30/2009	10.63	7.34	9.59
10/1/2009	12/31/2009	13.18	8.39	12.52

1/1/2010	3/31/2010	17.25	10.55	16.59
4/1/2010	6/30/2010	21.29	13.80	17.59
7/1/2010	9/30/2010	22.93	16.87	19.96
10/1/2010	12/7/2010	21.09	16.81	18.32

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

RBC Capital Markets, LLC

P43


		Reverse Convertible Notes Each Linked to a Single Reference Stock

Period-Start Date	Period-End Date	High Intra-Day Price of the Reference Stock in ($)	Low Intra-Day Price of the Reference Stock in ($)	Period-End Closing Price of the Reference Stock in ($)
1/1/2007	3/30/2007	25.47	8.80	22.04
3/31/2007	6/29/2007	34.45	19.38	25.73
6/30/2007	9/28/2007	36.53	19.40	28.49
9/29/2007	12/31/2007	34.13	16.30	26.90

1/1/2008	3/31/2008	28.25	12.94	15.37
4/1/2008	6/30/2008	26.75	14.82	15.32
7/1/2008	9/30/2008	17.46	11.03	11.48
10/1/2008	12/31/2008	12.37	2.81	4.65

1/1/2009	3/31/2009	6.89	2.88	5.21
4/1/2009	6/30/2009	14.20	5.09	12.82
7/1/2009	9/30/2009	17.95	10.05	16.09
10/1/2009	12/31/2009	28.20	14.39	26.99

1/1/2010	3/31/2010	31.12	19.53	24.41
4/1/2010	6/30/2010	27.57	14.85	17.28
7/1/2010	9/30/2010	30.57	17.06	30.18
10/1/2010	12/7/2010	31.88	22.05	24.37

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

RBC Capital Markets, LLC

P44


		Reverse Convertible Notes Each Linked to a Single Reference Stock

Period-Start Date	Period-End Date	High Intra-Day Price of the Reference Stock in ($)	Low Intra-Day Price of the Reference Stock in ($)	Period-End Closing Price of the Reference Stock in ($)
1/1/2007	3/30/2007	51.40	31.47	50.22
3/31/2007	6/29/2007	64.65	50.06	57.15
6/30/2007	9/28/2007	62.00	42.64	46.02
9/29/2007	12/31/2007	65.50	44.53	47.70

1/1/2008	3/31/2008	48.35	26.55	30.00
4/1/2008	6/30/2008	33.40	18.60	19.77
7/1/2008	9/30/2008	20.17	14.29	16.49
10/1/2008	12/31/2008	16.86	6.71	13.17

1/1/2009	3/31/2009	19.16	11.88	13.47
4/1/2009	6/30/2009	18.76	12.25	12.73
7/1/2009	9/30/2009	16.04	10.63	14.98
10/1/2009	12/31/2009	16.92	12.27	13.55

1/1/2010	3/31/2010	15.33	11.49	13.90
4/1/2010	6/30/2010	14.43	10.76	11.67
7/1/2010	9/30/2010	13.49	10.40	13.36
10/1/2010	12/7/2010	17.73	12.80	17.32

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

RBC Capital Markets, LLC

P45


		Reverse Convertible Notes Each Linked to a Single Reference Stock

Period-Start Date	Period-End Date	High Intra-Day Price of the Reference Stock in ($)	Low Intra-Day Price of the Reference Stock in ($)	Period-End Closing Price of the Reference Stock in ($)
1/1/2007	3/30/2007	114.60	89.06	94.86
3/31/2007	6/29/2007	107.97	85.53	89.69
6/30/2007	9/28/2007	168.79	88.42	157.56
9/29/2007	12/31/2007	176.14	110.50	112.13

1/1/2008	3/31/2008	124.77	90.92	100.64
4/1/2008	6/30/2008	116.54	77.67	81.35
7/1/2008	9/30/2008	119.73	69.27	81.64
10/1/2008	12/31/2008	83.69	28.21	42.26

1/1/2009	3/31/2009	55.39	14.50	19.97
4/1/2009	6/30/2009	50.76	19.52	35.30
7/1/2009	9/30/2009	74.89	29.05	70.89
10/1/2009	12/31/2009	71.50	51.74	58.23

1/1/2010	3/31/2010	77.95	59.70	75.83
4/1/2010	6/30/2010	93.99	71.00	76.27
7/1/2010	9/30/2010	95.85	73.12	86.77
10/1/2010	12/7/2010	117.50	85.81	101.47

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

RBC Capital Markets, LLC

P46


		Reverse Convertible Notes Each Linked to a Single Reference Stock

Period-Start Date	Period-End Date	High Intra-Day Price of the Reference Stock in ($)	Low Intra-Day Price of the Reference Stock in ($)	Period-End Closing Price of the Reference Stock in ($)
1/1/2007	3/30/2007	101.60	68.83	99.17
3/31/2007	6/29/2007	127.26	99.07	108.75
6/30/2007	9/28/2007	116.37	74.47	105.94
9/29/2007	12/31/2007	121.11	85.05	120.91

1/1/2008	3/31/2008	128.30	91.11	126.87
4/1/2008	6/30/2008	196.00	122.00	184.78
7/1/2008	9/30/2008	180.57	68.63	77.61
10/1/2008	12/31/2008	77.92	20.73	37.20

1/1/2009	3/31/2009	41.30	16.66	21.13
4/1/2009	6/30/2009	43.15	20.18	35.74
7/1/2009	9/30/2009	51.65	29.36	44.37
10/1/2009	12/31/2009	58.19	33.25	55.12

1/1/2010	3/31/2010	66.45	42.33	63.52
4/1/2010	6/30/2010	70.95	38.39	38.55
7/1/2010	9/30/2010	51.38	36.94	43.84
10/1/2010	12/7/2010	54.45	39.78	52.96

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

RBC Capital Markets, LLC

P47


		Reverse Convertible Notes Each Linked to a Single Reference Stock

Period-Start Date	Period-End Date	High Intra-Day Price of the Reference Stock in ($)	Low Intra-Day Price of the Reference Stock in ($)	Period-End Closing Price of the Reference Stock in ($)
1/1/2007	3/30/2007	15.44	11.68	14.36
3/31/2007	6/29/2007	15.25	11.02	11.12
6/30/2007	9/28/2007	13.02	8.41	11.78
9/29/2007	12/31/2007	15.85	11.04	12.94

1/1/2008	3/31/2008	19.93	13.26	14.62
4/1/2008	6/30/2008	16.99	12.24	16.54
7/1/2008	9/30/2008	17.00	7.27	8.33
10/1/2008	12/31/2008	8.80	3.31	7.72

1/1/2009	3/31/2009	9.75	5.80	9.25
4/1/2009	6/30/2009	11.99	7.36	8.84
7/1/2009	9/30/2009	11.49	8.22	10.71
10/1/2009	12/31/2009	14.37	10.00	11.38

1/1/2010	3/31/2010	13.06	9.61	9.85
4/1/2010	6/30/2010	11.83	9.83	10.30
7/1/2010	9/30/2010	11.67	9.16	11.40
10/1/2010	12/7/2010	13.13	10.42	12.41

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

RBC Capital Markets, LLC

P48


		Reverse Convertible Notes Each Linked to a Single Reference Stock

Period-Start Date	Period-End Date	High Intra-Day Price of the Reference Stock in ($)	Low Intra-Day Price of the Reference Stock in ($)	Period-End Closing Price of the Reference Stock in ($)
1/1/2007	3/30/2007	54.21	48.36	51.02
3/31/2007	6/29/2007	52.20	48.55	48.89
6/30/2007	9/28/2007	52.77	46.52	50.27
9/29/2007	12/31/2007	52.95	40.61	41.26

1/1/2008	3/31/2008	45.08	33.25	37.91
4/1/2008	6/30/2008	41.37	23.65	23.87
7/1/2008	9/30/2008	38.85	18.44	35.00
10/1/2008	12/31/2008	38.50	10.01	14.08

1/1/2009	3/31/2009	14.81	2.53	6.82
4/1/2009	6/30/2009	15.06	6.45	13.20
7/1/2009	9/30/2009	18.25	11.27	16.92
10/1/2009	12/31/2009	18.64	14.12	15.06

1/1/2010	3/31/2010	18.35	14.25	17.85
4/1/2010	6/30/2010	19.82	14.30	14.37
7/1/2010	9/30/2010	15.72	12.18	13.11
10/1/2010	12/7/2010	13.66	10.91	11.57

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

RBC Capital Markets, LLC

P49


		Reverse Convertible Notes Each Linked to a Single Reference Stock

Period-Start Date	Period-End Date	High Intra-Day Price of the Reference Stock in ($)	Low Intra-Day Price of the Reference Stock in ($)	Period-End Closing Price of the Reference Stock in ($)
1/1/2007	3/30/2007	41.76	33.89	37.67
3/31/2007	6/29/2007	52.20	37.41	45.30
6/30/2007	9/28/2007	47.74	35.97	44.82
9/29/2007	12/31/2007	62.55	44.49	61.64

1/1/2008	3/31/2008	63.96	42.05	51.00
4/1/2008	6/30/2008	88.69	49.38	88.05
7/1/2008	9/30/2008	88.26	39.10	45.00
10/1/2008	12/31/2008	43.98	16.01	22.75

1/1/2009	3/31/2009	30.95	20.17	25.04
4/1/2009	6/30/2009	37.44	23.64	30.16
7/1/2009	9/30/2009	41.54	27.20	37.22
10/1/2009	12/31/2009	48.14	34.54	45.21

1/1/2010	3/31/2010	51.94	39.90	45.70
4/1/2010	6/30/2010	50.25	34.91	39.13
7/1/2010	9/30/2010	49.94	38.08	49.01
10/1/2010	12/7/2010	64.46	48.77	61.47

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

RBC Capital Markets, LLC

P50


		Reverse Convertible Notes Each Linked to a Single Reference Stock

Period-Start Date	Period-End Date	High Intra-Day Price of the Reference Stock in ($)	Low Intra-Day Price of the Reference Stock in ($)	Period-End Closing Price of the Reference Stock in ($)
1/1/2007	3/30/2007	8.97	7.43	7.89
3/31/2007	6/29/2007	9.70	7.67	9.42
6/30/2007	9/28/2007	9.64	7.49	8.49
9/29/2007	12/31/2007	9.24	6.65	6.73

1/1/2008	3/31/2008	6.94	4.95	5.72
4/1/2008	6/30/2008	8.79	4.46	4.81
7/1/2008	9/30/2008	6.33	4.17	5.20
10/1/2008	12/31/2008	4.95	1.02	2.29

1/1/2009	3/31/2009	2.99	1.50	2.63
4/1/2009	6/30/2009	6.53	2.40	6.07
7/1/2009	9/30/2009	8.86	5.25	7.21
10/1/2009	12/31/2009	10.37	6.61	10.00

1/1/2010	3/31/2010	14.54	10.06	12.57
4/1/2010	6/30/2010	14.57	9.75	10.08
7/1/2010	9/30/2010	13.24	10.02	12.24
10/1/2010	12/7/2010	17.42	12.12	16.56

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

RBC Capital Markets, LLC

P51


		Reverse Convertible Notes Each Linked to a Single Reference Stock

Period-Start Date	Period-End Date	High Intra-Day Price of the Reference Stock in ($)	Low Intra-Day Price of the Reference Stock in ($)	Period-End Closing Price of the Reference Stock in ($)
1/1/2007	3/30/2007	49.02	39.92	45.50
3/31/2007	6/29/2007	66.86	42.93	66.66
6/30/2007	9/28/2007	100.98	61.55	98.55
9/29/2007	12/31/2007	137.00	95.02	113.40

1/1/2008	3/31/2008	118.35	80.20	112.23
4/1/2008	6/30/2008	148.11	113.01	116.90
7/1/2008	9/30/2008	135.00	60.11	68.30
10/1/2008	12/31/2008	68.23	35.10	40.58

1/1/2009	3/31/2009	60.41	35.05	43.07
4/1/2009	6/30/2009	86.00	42.76	71.05
7/1/2009	9/30/2009	88.07	63.36	67.55
10/1/2009	12/31/2009	71.60	54.31	67.54

1/1/2010	3/31/2010	76.95	60.40	73.95
4/1/2010	6/30/2010	74.93	49.13	49.26
7/1/2010	9/30/2010	58.64	42.54	48.69
10/1/2010	12/7/2010	63.94	46.78	62.12

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

RBC Capital Markets, LLC

P52


		Reverse Convertible Notes Each Linked to a Single Reference Stock

Period-Start Date	Period-End Date	High Intra-Day Price of the Reference Stock in ($)	Low Intra-Day Price of the Reference Stock in ($)	Period-End Closing Price of the Reference Stock in ($)
1/1/2007	3/30/2007	52.43	42.14	44.85
3/31/2007	6/29/2007	48.06	37.97	38.30
6/30/2007	9/28/2007	49.49	36.00	48.96
9/29/2007	12/31/2007	53.65	39.42	40.80

1/1/2008	3/31/2008	42.48	29.99	32.97
4/1/2008	6/30/2008	36.03	23.01	23.69
7/1/2008	9/30/2008	24.22	17.37	20.03
10/1/2008	12/31/2008	20.54	7.05	9.44

1/1/2009	3/31/2009	18.27	9.07	16.80
4/1/2009	6/30/2009	23.71	16.25	18.98
7/1/2009	9/30/2009	31.19	17.16	30.49
10/1/2009	12/31/2009	34.39	24.95	27.45

1/1/2010	3/31/2010	37.05	26.89	36.15
4/1/2010	6/30/2010	43.18	35.70	36.02
7/1/2010	9/30/2010	40.43	33.96	37.11
10/1/2010	12/7/2010	49.47	34.04	48.71

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

RBC Capital Markets, LLC

P53


		Reverse Convertible Notes Each Linked to a Single Reference Stock

SUPPLEMENTAL PLAN OF DISTRIBUTION

We expect that delivery of the Notes will be made against payment for the Notes on or about December 31, 2010, which is the third (3rd) business day following the Pricing Date (this settlement cycle being referred to as “T+3”). See “Plan of Distribution” in the prospectus supplement.

RBC Capital Markets, LLC

P54


	RBC Capital Markets®	Filed Pursuant to Rule 433 Registration Statement No. 333-163632


Preliminary Terms Supplement Subject to Completion: Dated December 8, 2010 Pricing Supplement Dated December , 2010 to the Product Prospectus Supplement Dated June 25, 2010, Prospectus Dated January 11, 2010, and Prospectus Supplement Dated January 11, 2010		$ __________ Reverse Convertible Notes Each Linked to a Single Reference Stock Royal Bank of Canada

Issuer:	Royal Bank of Canada	Listing:	None
Pricing Date:	December 28, 2010	Principal Amount:	$1,000 per RevCons
Issuance Date:	December 31, 2010	Coupon Payment:	Each coupon will be paid in equal monthly payments. (30/360)
Initial Stock Price:	The closing price of the Reference Stock on the pricing date.	Final Stock Price:	The closing price of the Reference Stock on the valuation date.
Payment at Maturity (if held to maturity):	For each $1,000 principal amount, $1,000 plus any accrued and unpaid interest at maturity unless:
Payment at Maturity (if held to maturity):	(i) the Final Stock Price is less than the Initial Stock Price; and
	(ii) on any day during the Monitoring Period, the closing price of the Reference Stock is less than the Barrier Price.
	If the conditions described in (i) and (ii) are both satisfied, then at maturity the investor will receive, instead of the principal amount, in addition to accrued and unpaid interest, the number of shares of the Reference Stock equal to the Physical Delivery Amount, or at our election, the cash value of those shares.
	Investors could lose some or all of their investment at maturity if there has been a decline in the trading price of the applicable Reference Stock.
Monitoring Period:	From and excluding the Pricing Date to and including the applicable Valuation Date.
Physical Delivery Amount:	For each $1,000 principal amount, a number of shares of the Reference Stock equal to the principal amount divided by the Initial Stock Price, subject to adjustment as described in the product prospectus supplement