Act 3, scene 3 begins with Romeo and Friar Lawrence talking together. The main topic of their conversation is Romeo's punishment.

Father, what news? What is the Prince’s doom?

The friar informs Romeo that the prince has decided not to have Romeo executed. Instead, Romeo is to be banned from the city. Like an overreacting child, Romeo claims that banishment is worse than death.

Ha, banishment! Be merciful, say “death,”

For exile hath more terror in his look,

Much more than death. Do not say “banishment.”

This is dear mercy, and thou seest it not.

Here, sir, a ring she bid me give you, sir.

The Nurse gives Romeo a ring from his fair Juliet in Act 3, Scene 3.  The meat of the scene contains Friar Laurence, Romeo, and the Nurse contemplating Romeo's banishment from Verona after slaying Tybalt, but it ends with hope of Romeo and Juliet being reunited.  The Nurse is just about to leave in order to let Juliet know that Romeo is going to visit her secretly; however, right before she exits, she says, "Here sir, a ring she bid me give you, sir.  Hie you, make haste, for it grows very late."  Romeo's response is, "How well my comfort is revived by this!"  Romeo, then, prepares for his secret visit with Juliet, the reader can assume, while he is wearing his precious ring.