Royal Bank of Canada has filed a final prospectus with Canadian securities commissions for the issuance of Innovative Tier 1 capital of the bank.

RBC Capital Trust, a subsidiary of Royal Bank of Canada, will issue $500 million of RBC TruCS – Series 2008-1.

The RBC TruCS – Series 2008-1 will be priced at $1,000 each and will provide an indicated yield of 6.821%, paid semi-annually in an amount of $34.105 per RBC TruCS – Series 2008-1 on the last day of June and December.

The initial payment on June 30, 2008 will be $11.773.

The capital will be issued for general corporate purposes, the bank says.

RBC Capital Trust is a closed-end trust established under the laws of Ontario. RBC Capital Markets acted as lead agent on the issue.