ROYAL BK CDA QUEN PFD 424B Filings

Royal Bank of Canada is offering auto-callable contingent coupon barrier notes linked to the worst performer of two ETFs: the State Street Technology Select Sector SPDR ETF (XLK) and the SPDR S&P Oil & Gas Exploration & Production ETF (XOP). The notes pay a quarterly contingent coupon of 4.3375% (17.35% per year) per $1,000 principal only if, on each observation date, both underliers are at or above 80% of their initial values. The notes may be automatically called quarterly if both ETFs are at or above their initial levels, returning $1,000 plus the coupon. If not called and the worst-performing ETF finishes below its 80% barrier at maturity in February 2029, repayment of principal is reduced one-for-one with that loss, and investors can lose most or all of their investment. The initial estimated value is expected between $910.00 and $960.00 per $1,000, below the public price, and all payments depend on RBC’s credit.

Royal Bank of Canada is issuing $2,634,000 of issuer callable contingent coupon barrier notes linked to the common stock of Tesla, Inc., maturing on February 15, 2028. The notes pay a monthly contingent coupon of $12.667 per $1,000 (1.2667% per month, 15.20% per year) when Tesla’s closing price is at or above a coupon threshold of $212.61, which is 50% of the $425.21 initial underlier value.

RBC can call the notes quarterly, starting about six months after issuance, paying $1,000 per note plus any due coupon, with no further payments. If the notes are not called and Tesla’s final value on the February 10, 2028 valuation date is at or above the barrier value of $212.61, investors receive full principal back plus any due coupon. If Tesla finishes below the barrier, repayment equals $1,000 plus $1,000 times the stock return, so losses can reach all or most of principal.

The public offering price is 100% of principal, with 0.25% in underwriting discounts and commissions, so RBC receives 99.75% of proceeds. The bank’s initial estimated value is $980.49 per $1,000, below the offering price, reflecting internal funding rates, selling concessions and hedging costs. The notes are unsecured senior debt of RBC, are not insured by Canadian or U.S. deposit insurers, and carry U.S. federal income tax uncertainty, including ordinary income treatment for coupons and potential withholding considerations for non-U.S. holders.

Royal Bank of Canada is offering auto-callable fixed coupon barrier notes linked to the least performing of AMD, Progressive and Exxon Mobil common shares. The Notes pay a fixed coupon of $10.167 per $1,000 each month, corresponding to 12.20% per annum, until auto-call or maturity in February 2029.

The notes may be automatically called quarterly if each underlier is at or above its initial value, returning $1,000 plus the coupon. If not called, principal is protected only if the worst underlier finishes at or above 50% of its initial value; otherwise investors receive shares of that worst underlier and can lose most or all of their principal. The Notes are unsecured RBC debt, not insured, and the initial estimated value is expected between $905 and $955 per $1,000.

Royal Bank of Canada is offering redeemable fixed rate notes with a total public offering price of $2,860,000. The notes pay 4.25% per annum, with semiannual interest starting February 13, 2026, and mature on February 13, 2031 if not redeemed earlier.

The notes are callable at the bank’s option, in whole only, on the February 13, 2028 interest payment date and on each interest payment date thereafter, at par plus accrued interest. They are issued in minimum denominations of $1,000, are subject to Canadian bail-in powers, and all payments depend on Royal Bank of Canada’s credit.

Royal Bank of Canada is offering $2,107,000 of Auto-Callable Contingent Coupon Barrier Notes linked to the Bloomberg US Large Cap VolMax Index. These five-year notes pay a monthly contingent coupon of $11.875 per $1,000 (14.25% per annum) only when the index is at or above 60% of its initial level on the observation date.

The notes can be automatically called quarterly, starting about one year after issuance, if the index is at or above its initial level, returning $1,000 plus the coupon, with no further payments. If held to maturity and not called, principal is fully returned only if the final index level is at or above 50% of the initial value; below that barrier, repayment is reduced one-for-one with the index loss and can fall to zero.

The initial estimated value is $941.35 per $1,000, below the public offering price, reflecting dealer compensation, hedging costs and the issuer’s funding rate. The complex VolMax index uses leverage, daily rebalancing and ongoing financing and fee deductions, which can significantly drag on performance and increase risk of principal loss.

Royal Bank of Canada is issuing Auto-Callable Fixed Coupon Barrier Notes linked to the worst performer among Chevron, Halliburton and Valero common stocks. The notes pay a fixed coupon of 0.7167% per month (8.60% per annum) on a $1,000 minimum denomination.

The notes may be automatically called quarterly if each stock is at or above its initial level, returning $1,000 plus the coupon and ending further payments. If not called, and the worst-performing stock is at or above 50% of its initial value on the valuation date, investors receive $1,000 plus the final coupon.

If the worst-performing stock finishes below its 50% barrier, investors receive shares of that stock worth less than $1,000, potentially down to zero, plus the final coupon. The initial estimated value is expected to be $900–$950 per $1,000, below the public price, reflecting dealer compensation and hedging. The notes are unsecured RBC debt, not insured or bail-inable, and carry complex tax and withholding considerations.

Royal Bank of Canada is offering auto-callable contingent coupon barrier notes linked to the worst performer of the EURO STOXX® Banks Index and the Technology Select Sector SPDR® ETF. The notes pay a $40 contingent coupon per $1,000 per quarter (16% per annum) when both underliers are at or above 75% of their initial values.

The notes can be automatically called quarterly if both underliers are at or above their initial values, returning $1,000 plus the coupon. If held to maturity without being called, principal is fully repaid only if the worst underlier finishes at or above its 75% barrier; otherwise, repayment is reduced one-for-one with the underlier loss, potentially to zero.

The public offering price is at par, with underwriting discounts of 1.00% and an initial estimated value between $910 and $960 per $1,000, reflecting dealer compensation and hedging costs. The notes are unsecured debt of Royal Bank of Canada, are not insured, and all payments depend on the bank’s credit. U.S. tax treatment is based on treating the notes as prepaid financial contracts with coupons taxed as ordinary income, though the IRS could disagree.

Royal Bank of Canada is offering Senior Global Medium-Term Notes, Series J, that are auto-callable, contingent-coupon securities linked to the Class C stock of Zillow Group, Inc. The notes pay a 10.80% per annum contingent coupon, paid quarterly only when Zillow’s closing price on the calculation day is at or above 60% of the starting value.

The notes can be automatically called on quarterly dates from May 2026 to November 2028 if Zillow’s closing price is at least 90% of the starting value; in that case investors receive the $1,000 face amount plus the applicable coupon and the investment ends early. If not called, at maturity in February 2029 investors receive $1,000 per note only if Zillow’s final price is at or above 60% of the starting value.

If Zillow’s final price is below that 60% downside threshold, repayment is reduced in line with the stock’s decline from the starting value, meaning investors can lose more than 40%, up to their entire principal. Investors do not participate in any upside of the stock and receive no dividends. All payments depend on Royal Bank of Canada’s ability to meet its obligations, the notes are not insured, are not bail-inable, have an initial estimated value of $953.51 per $1,000, and are not expected to have an active trading market.

Royal Bank of Canada is issuing $2,405,000 of Auto-Callable Contingent Coupon Barrier Notes with a memory feature, linked to the worst performer of the Russell 2000 Index, VanEck Semiconductor ETF and Utilities Select Sector SPDR ETF, maturing on May 15, 2030.

The notes pay a contingent coupon of $24 per $1,000 (2.40% quarterly, 9.60% annually) only if all underliers stay at or above 70% of their initial values on observation dates. Principal is protected at maturity only if the worst underlier remains at or above 60% of its initial value; below that level, repayment is reduced one-for-one with the loss in that underlier, and investors can lose most or all of their principal.

The notes may be automatically called quarterly starting February 2027 if all underliers are at or above initial values, in which case investors receive $1,000 plus due coupons. The issue price is par, but the initial estimated value is $945.82 per $1,000, reflecting dealer compensation, hedging costs and RBC’s funding rate.

Royal Bank of Canada is offering auto-callable contingent coupon barrier notes linked to the common stock of Advanced Micro Devices, Inc. (AMD). The notes pay a conditional coupon of $38.25 per $1,000 each quarter, equal to 15.30% per year, but only if AMD’s closing price on the observation date is at or above a threshold set at 50% of the initial AMD share value.

The notes can be automatically called on quarterly call observation dates starting in August 2026 if AMD’s closing value is at or above its initial value. If called, investors receive $1,000 plus the applicable coupon and no further payments. If not called and AMD’s final value on the February 17, 2028 valuation date is at or above the 50% barrier, investors receive their full $1,000 principal plus any due coupon.

If the notes are not called and AMD’s final value is below the 50% barrier, repayment is reduced one-for-one with AMD’s loss, using the underlier return formula. In that case, investors can lose a substantial portion or all of their principal. The price to the public is 100% of principal, with underwriting discounts of 2.50% and proceeds to RBC of 97.50%. The initial estimated value per $1,000 is expected to be between $916 and $966, reflecting hedging and funding costs. All payments depend on RBC’s credit, and the U.S. tax treatment is based on treating the notes as prepaid financial contracts with associated coupons, which carries some uncertainty.

Royal Bank of Canada is offering unsecured structured notes linked to the S&P 500® Index that pay no interest and have a maturity expected between 14 and 16 months after the trade date. Each note has a $1,000 principal amount and is issued at 100% of principal.

At maturity, if the S&P 500 final level is at least 90.00% of its initial level, holders receive a fixed threshold settlement amount expected to be between $1,095.70 and $1,112.50 per $1,000, capping upside. If the final level is below 90.00%, principal is reduced by about 1.1111% for every 1% the index falls below the threshold, with the potential for total loss of principal.

The initial estimated value is expected between $965.70 and $995.70 per $1,000, less than the issue price due to RBC’s funding and hedging costs. The notes are senior unsecured obligations subject to RBC’s credit risk, will not be listed on any exchange, pay no interest, and may have limited or no secondary market liquidity.

Royal Bank of Canada is offering Contingent Coupon Barrier Notes with a memory feature maturing in March 2029, linked to the worst performer among ASML Holding, Salesforce and Intuit shares. The notes are issued at 100% of principal, with no underwriting commission to RBC Capital Markets.

Investors may receive a monthly Contingent Coupon of $10.958 per $1,000 (about 1.0958% per month, 13.15% per year) if on each observation date every underlier is at or above 50% of its initial value. Missed coupons can be paid later if conditions are met. At maturity, if the least performing underlier is at or above its 50% barrier, holders receive full principal plus any due coupons; otherwise repayment is reduced one-for-one with that underlier’s loss, potentially to zero.

The initial estimated value is expected between $890 and $940 per $1,000, below the public offering price, reflecting internal funding and hedging costs. All payments depend on Royal Bank of Canada’s credit and the notes are not insured or bail-inable.

Royal Bank of Canada is offering issuer callable contingent coupon barrier notes linked to Alphabet Inc. Class A common stock. These notes pay a contingent coupon of $30.00 per $1,000 per quarter (12.00% per annum) only when the stock closes at or above a coupon threshold set at 65% of the initial value.

RBC may call the notes on quarterly call dates starting in August 2026, paying $1,000 per note plus any due coupon, after which no further payments occur. If not called and the final Alphabet value is at or above the 65% barrier, investors receive $1,000 plus any coupon; if it is below, investors receive a physical delivery amount of Alphabet shares that can be worth substantially less than principal and potentially zero.

The initial estimated value is expected to be between $925.00 and $975.00 per $1,000, below the public offering price, reflecting underwriting discounts, structuring fees and hedging costs. The notes carry RBC credit risk, involve complex U.S. tax treatment as prepaid financial contracts with associated coupons, and are subject to conflicts of interest and secondary-market risks.

Royal Bank of Canada is offering auto-callable contingent coupon barrier notes linked to the least performing of the Nasdaq-100 Index, the Russell 2000 Index and the State Street Energy Select Sector SPDR ETF, maturing on February 17, 2028.

The notes pay a contingent coupon of $10.708 per $1,000 (1.0708% per month, 12.85% per year) on monthly dates only if each underlier closes at or above its coupon threshold, set at 70% of its initial value. Starting about six months after issuance, the notes are automatically called if all underliers are at or above their initial values, returning $1,000 plus the applicable coupon.

If not called, investors receive at maturity $1,000 per note if the least performing underlier is at or above its 70% barrier. If it finishes below the barrier, repayment is reduced one-for-one with the underlier loss, and investors can lose most or all of principal. The price to the public is 100% of principal, with underwriting discounts of 0.50% and issuer proceeds of 99.50%. The initial estimated value is expected between $925 and $975 per $1,000, reflecting hedging costs, funding and fees, and may be lower than secondary market values. Tax treatment is uncertain and the notes carry the issuer’s credit risk.

Royal Bank of Canada is offering auto-callable contingent coupon barrier notes linked to the Bloomberg US Large Cap VolMax Index, maturing on March 6, 2031. The notes pay a monthly contingent coupon of $15.208 per $1,000 (18.25% per annum) only when the index closes at or above 70% of its initial value on the relevant observation date.

Starting March 2027, the notes are automatically called if the index is at or above its initial level, returning $1,000 plus the coupon, with no further payments. If held to maturity and the final index value is at or above 60% of its initial level, investors receive full principal back (plus any due coupon). Below 60%, repayment is reduced one-for-one with the index decline, which can result in substantial or total loss of principal.

The initial estimated value is expected between $900 and $950 per $1,000, reflecting dealer discounts, hedging costs and RBC’s funding rate. Returns depend on the leveraged, cost-burdened VolMax index, and all payments are subject to Royal Bank of Canada’s credit risk. The notes are unsecured, not insured by Canadian or U.S. deposit insurance, and involve complex structural and tax risks.

Royal Bank of Canada is offering $1,620,000 of Auto-Callable Contingent Coupon Barrier Notes linked to Lam Research Corporation common stock, maturing on February 23, 2027. The notes pay a contingent coupon of $54.75 per $1,000 only if Lam’s stock stays at or above 50% of its initial level on quarterly observation dates.

If on any call observation date Lam’s stock closes at or above the initial value of $213.31, the notes are automatically called and pay $1,000 plus the coupon, with no further payments. At maturity, if not called and the final stock value is at or above the 50% barrier of $106.66, investors receive $1,000 per note plus any coupon.

If the final stock value is below the barrier, repayment of principal is reduced one-for-one with the stock’s decline, and investors can lose most or all of their investment. The public offering price is 100% of principal, with proceeds to Royal Bank of Canada of 99.00% and an initial estimated value of $997.88 per $1,000, which may be higher than secondary market values.

Royal Bank of Canada is issuing $2,918,000 in auto-callable contingent coupon barrier notes linked to the least performing of the Dow Jones Industrial Average, Nasdaq-100 Index and S&P 500 Index, maturing on February 9, 2029.

The notes pay a contingent coupon of $6.25 per $1,000 (0.625% monthly, 7.50% per annum) only when all three indices stay at or above 60% of their initial levels on observation dates, and may be automatically called from February 2027 if each index is at or above its initial level. If not called and the worst-performing index finishes below its 60% barrier, repayment of principal is reduced one-for-one with the index loss, up to full loss of principal.

The price to the public is 100% of principal, with underwriting discounts of 0.15% and net proceeds to RBC of 99.85%. The initial estimated value is $988.08 per $1,000, reflecting hedging costs, selling concessions and RBC’s internal funding rate.

Royal Bank of Canada is issuing $535,000 of auto-callable contingent coupon barrier notes linked to the worst performer of the Russell 2000 Index, the Energy Select Sector SPDR ETF (XLE) and the Health Care Select Sector SPDR ETF (XLV), maturing February 11, 2031.

The notes pay a monthly contingent coupon of $8.125 per $1,000 (9.75% per year) only if each underlier is at or above 70% of its initial value on the observation date and may be called early if all are at or above their initial levels starting in February 2027.

If not called, principal is protected at maturity only if the least-performing underlier finishes at or above 60% of its initial value; otherwise, repayment is reduced one-for-one with that underlier’s loss, and investors can lose most or all of their principal. The bank’s proceeds are 99.75% of principal, and the initial estimated value of $975.39 per $1,000 is below the issue price, reflecting fees and hedging costs.

Royal Bank of Canada is offering auto-callable contingent coupon barrier notes linked to the worst performer of the Nasdaq-100 Technology Sector Index, the Russell 2000 Index and the S&P 500 Index. The total offering size is $2,709,000 with proceeds to RBC of $2,700,873.

The notes pay a contingent coupon of $10 per $1,000 (1% per month, 12% per year) only when all three indexes are at or above 75% of their initial values on the relevant observation date. The notes can be automatically called quarterly if each index is at or above its initial level, returning principal plus the applicable coupon.

If the notes are not called, principal repayment at maturity depends on the least performing index. Full principal is returned if that index stays at or above 70% of its initial value; below this “barrier,” repayment is reduced one-for-one with the index loss, potentially resulting in a substantial or total loss. The initial estimated value is $990.84 per $1,000, below the public offering price.

Royal Bank of Canada is issuing auto-callable contingent coupon barrier notes linked to the least-performing of the Russell 2000 Index, the Technology Select Sector SPDR ETF and the Utilities Select Sector SPDR ETF. The notes are offered at 100% of principal, for a total of $6,636,000.

The notes pay a monthly contingent coupon of $9.167 per $1,000 (11.00% per annum) only if each underlier stays at or above 70% of its initial value on the observation date. They may be automatically called monthly from August 2026 if all underliers are at or above their initial values.

At maturity, if not called, investors receive full principal back only if the least-performing underlier is at or above 60% of its initial value; below this barrier, repayment is reduced one-for-one with the underlier loss, potentially to zero. The initial estimated value is $992.04 per $1,000, below the public offering price, and all payments are subject to RBC’s credit risk.

Royal Bank of Canada is offering Enhanced Return Buffer Notes linked to an equally weighted basket of the MSCI EAFE, MSCI Emerging Markets, EURO STOXX 50 and TOPIX indices. The total offering size is $500,000, with proceeds to the bank of $497,000.

The Notes run from a February 2026 trade date to a February 2030 maturity. Investors get 124% participation in any positive basket return. A 20% downside buffer protects principal if the basket decline stays within that range; deeper losses reduce principal, and all payments depend on RBC’s credit.

Royal Bank of Canada is offering $750,000 of auto-callable contingent coupon barrier notes linked to the weaker of the EURO STOXX Banks Index and the SPDR S&P Oil & Gas Exploration & Production ETF.

The notes pay a quarterly contingent coupon of $46.50 per $1,000 (18.60% per year) only if both underliers stay at or above 75% of their initial values on each observation date. They may be automatically called quarterly if both underliers are at or above their initial levels, returning $1,000 plus the coupon.

If the notes are not called and the weaker underlier finishes below its 75% barrier, repayment of principal is reduced one-for-one with the underlier loss, up to full loss of principal. The initial estimated value of $974.49 per $1,000 is below the public offering price, reflecting fees and hedging costs, and secondary market values may be lower. Payments depend on RBC’s credit and carry complex U.S. tax treatment, including ordinary income on coupons and potential withholding for some non-U.S. investors.

Royal Bank of Canada is offering $3,493,000 of senior unsecured market-linked notes tied to the lowest-performing of Apple, Berkshire Hathaway Class B and Northrop Grumman, maturing on February 9, 2029. Each security has a $1,000 face amount and an initial estimated value of $970.56.

The notes pay a 10.15% per annum contingent monthly coupon only if the lowest-performing stock on each calculation day stays at or above its coupon threshold, set at 60% of its starting value. From August 2026 the notes are auto-callable if that lowest-performing stock is at or above its starting value. If not called and the lowest-performing stock ends below its 60% downside threshold, principal repayment falls in line with its decline, potentially to zero. Investors do not participate in any stock upside and are fully exposed to RBC credit risk.

Royal Bank of Canada is issuing $4,180,000 of Airbag Autocallable Yield Notes linked to the Class A ordinary shares of Accenture plc. The Notes pay an 11.00% per annum coupon in equal monthly installments regardless of how the Accenture share price performs.

Each $1,000 Note may be automatically called quarterly if Accenture’s closing value is at or above the Initial Underlying Value of $241.65, in which case investors receive $1,000 plus the applicable coupon and the Notes terminate. If the Notes are not called and the Final Underlying Value on February 8, 2027 is at or above the Conversion Price of $205.40, investors receive $1,000 in cash plus the last coupon.

If the Notes are not called and the Final Underlying Value is below the Conversion Price, investors receive the final coupon and about 4.8685 Accenture shares per Note, which may be worth significantly less than $1,000 and could be worthless. The Notes are unsecured obligations of Royal Bank of Canada, are not listed on an exchange, carry UBS selling commissions of $15 per Note, and have an initial estimated value of $980.65, below the $1,000 public offering price.

Royal Bank of Canada is issuing $8,210,000 of Auto-Callable Enhanced Return Geared Buffer Notes linked to an equally weighted basket of CrowdStrike, Microsoft, Palo Alto Networks and Snowflake shares, maturing on February 10, 2028.

The notes may be automatically called on February 19, 2027 if the basket is at or above its initial value, paying $1,201.80 per $1,000 in principal (a 20.18% return). If not called, at maturity investors get geared upside at a 125% participation rate when the basket rises, full principal back if the basket is down by up to 15%, and amplified losses below that buffer via a downside multiplier of about 1.17647. The initial estimated value is $989.82 per $1,000, below the public offering price, and all payments depend on RBC’s creditworthiness.

Royal Bank of Canada is offering $1,000,000 of Auto-Callable Contingent Coupon Barrier Notes with Memory Coupon linked to the Russell 2000® Index. Investors pay 100% of principal per note, while RBC receives 99% after a 1% placement fee.

The notes pay a quarterly contingent coupon of $23.325 per $1,000 if, on the relevant observation date, the index closes at or above 75% of its initial value. Missed coupons may be paid later if conditions are met. The notes are automatically called if the index is at or above its initial value on any call observation date, returning $1,000 plus due coupons.

If not called, and the final index value is at or above 75% of the initial level, investors receive $1,000 plus any applicable coupons. If the final value is below this barrier, the maturity payment is reduced one-for-one with the index loss, and investors can lose a substantial portion or all of their principal. The initial estimated value is $993.38 per $1,000, below the public offering price, and all payments are subject to RBC’s credit risk.

Royal Bank of Canada is offering eurozone equity-linked Auto-Callable Enhanced Return Barrier Notes tied to the EURO STOXX 50® Index. The notes can be automatically called in 2027 if the index closes at or above its initial level, paying 111.60% of principal and then terminating.

If not called, holders in 2031 receive leveraged upside at 200% of the index gain, full principal back when the index finishes at or above 75% of its initial level, and one-for-one losses below that barrier, which can mean losing most or all principal. All payments depend on RBC’s credit and there may be limited or no secondary market, with the initial estimated note value between $908.74 and $958.74 per $1,000 principal, below the public offering price.

Royal Bank of Canada is offering complex, unsecured market-linked notes due February 23, 2029, each with a $1,000 face amount. The notes pay a contingent coupon, at a rate of at least 10.40% per annum, only if on each monthly calculation day the lowest performing of the iShares U.S. Aerospace & Defense ETF, the MSCI EAFE Index and the Energy Select Sector SPDR ETF is at or above 70% of its starting value.

The notes are auto-callable quarterly starting around six months after issuance if that lowest underlier is at or above its starting value, in which case investors receive $1,000 plus the final coupon and the notes terminate. If not called, and on the final calculation day the lowest underlier is below 70% of its starting value, principal is reduced one-for-one with the underlier’s loss, potentially to zero.

The initial estimated value is expected between $903.50 and $953.50 per note, below the $1,000 offering price, reflecting agent discounts, internal funding and hedging costs. The notes are not insured deposits, carry full RBC credit risk, may have limited or no secondary market, and are intended only for investors who can bear significant loss of principal and variable income.

Royal Bank of Canada is offering auto-callable contingent coupon barrier notes with a memory feature linked to the worst-performing of Costco and Goldman Sachs shares. The notes pay a contingent coupon of $22.50 per $1,000 each quarter (a 9.00% annual rate) when both stocks close at or above 56.25% of their initial values on the relevant observation date.

If, on any call observation date, both underliers are at or above their initial values, the notes are automatically redeemed at $1,000 plus any due coupons, ending the investment early. At maturity in February 2029, if never called, investors receive full principal only if the least-performing stock finishes at or above its 56.25% barrier; otherwise repayment is reduced one-for-one with that stock’s loss, potentially to zero. The initial estimated value per $1,000 is expected between $912.50 and $962.50, reflecting fees and hedging costs, and all payments are subject to Royal Bank of Canada’s credit risk.

Royal Bank of Canada is offering auto-callable contingent coupon barrier notes linked to the least performing of Apple, Disney and Oracle common stocks, maturing on February 15, 2029. The minimum investment is $1,000.

The notes pay a monthly contingent coupon of $18.625 per $1,000 (about 22.35% per year) only when each underlier closes at or above 60% of its initial value on the relevant observation date. The notes may be automatically called quarterly if all underliers are at or above their initial values, returning principal plus the applicable coupon.

If not called, principal is protected at maturity only if the least performing underlier finishes at or above 50% of its initial value. Below that barrier, repayment is reduced one-for-one with the underlier’s loss, and investors can lose most or all of principal. The price to the public is 100% of principal, with proceeds to RBC of 99.75% after a 0.25% underwriting discount. The initial estimated value is expected between $908 and $958 per $1,000, reflecting structuring and hedging costs.

Royal Bank of Canada is offering unsecured Capped Enhanced Return Dual Directional Buffer Notes linked to the worst performer of Advanced Micro Devices and NVIDIA common stock. Each Note has a $1,000 principal amount, a 150% participation rate and a Maximum Upside Return of 125%, capping payment at $2,250 if the weaker stock rises enough.

If the least performing stock is flat or falls by up to 25%, investors receive a positive return equal to the absolute decline, up to 25%. If it falls by more than 25%, principal is reduced beyond that buffer and investors can lose a substantial portion of their investment. The price to the public is 100% of principal, while proceeds to Royal Bank of Canada are 97.75%. The initial estimated value is expected between $875 and $925 per $1,000, reflecting underwriting, funding and hedging costs. Payments depend on Royal Bank of Canada’s credit and the Notes are not insured by any government agency.

Royal Bank of Canada is offering $769,000 of Auto-Callable Contingent Coupon Barrier Notes linked to the VanEck Semiconductor ETF (SMH), Financial Select Sector SPDR ETF (XLF) and Utilities Select Sector SPDR ETF (XLU).

The notes pay a contingent quarterly coupon of $31.125 per $1,000 (3.1125% per quarter, 12.45% per year) only if each ETF stays at or above 70% of its initial value on the observation date. Starting about one year after issuance, the notes are automatically called if all three ETFs are at or above their initial values, returning $1,000 plus the coupon.

If the notes are not called and the worst-performing ETF is below its 70% barrier at maturity, repayment of principal is reduced one-for-one with that ETF’s loss, up to a total loss of principal. The initial estimated value is $938.75 per $1,000, below the public offering price.

Royal Bank of Canada is offering auto-callable contingent coupon barrier notes linked to Broadcom Inc. common stock, maturing in May 2027. The notes pay a monthly contingent coupon of $12.417 per $1,000 (about 1.2417% per month, 14.90% annually) only when Broadcom’s share price is at or above a set threshold.

If, on a monthly call observation date, Broadcom’s closing value is at or above its initial level, the notes are automatically called and repay $1,000 plus the coupon. At maturity, if not called and Broadcom is at or above 53% of its initial value, investors receive full principal back plus any coupon; if it is below 53%, they receive Broadcom shares worth less than principal, potentially all the way down to zero, and all payments depend on RBC’s credit.

Royal Bank of Canada is offering senior unsecured market-linked notes tied to the common stock of GE Vernova Inc., maturing on February 16, 2029, with a face amount of $1,000 per security. These notes pay a contingent quarterly coupon at a minimum rate of 14.20% per annum only when GE Vernova’s stock closes at or above a preset coupon threshold on the relevant calculation day.

The notes are auto-callable quarterly from May 2026 through November 2028 if the stock is at or above the starting value, in which case investors receive the $1,000 face amount plus the final contingent coupon. If not called and the ending stock value is at or above 50% of the starting value, investors receive only the $1,000 principal. If the ending value is below this 50% downside threshold, repayment is reduced in proportion to the stock’s decline, exposing investors to losses greater than 50% and up to a complete loss of principal.

The initial estimated value per security on the pricing date is expected to be between $917.00 and $967.00, less than the $1,000.00 original offering price, reflecting internal funding, hedging costs, and the agent discount of $23.25 per security, leaving $976.75 in proceeds to Royal Bank of Canada. The notes are not insured, are not bail-inable, and all payments depend on Royal Bank of Canada’s credit.

Royal Bank of Canada is offering auto-callable contingent coupon barrier notes linked to the worst performer among the Russell 2000, S&P 500 and EURO STOXX 50 indices, maturing on February 14, 2030. The notes pay a quarterly contingent coupon of $22.875 per $1,000 (about 9.15% per year) only if each index on the observation date is at or above 70% of its initial level.

The notes can be automatically called quarterly starting February 11, 2027 if all indices are at or above their initial values, in which case investors receive $1,000 plus the coupon and the product ends. If the notes are not called and the worst-performing index finishes below 70% of its initial value at maturity, repayment of principal is reduced one-for-one with that index’s loss, up to a total loss of principal.

The price to the public is set at 100% of principal, with underwriting discounts and commissions of 2.35%, leaving 97.65% in proceeds to Royal Bank of Canada. The bank’s initial estimated value is expected to be between $908 and $958 per $1,000, reflecting internal funding rates, fees and hedging costs. U.S. tax counsel currently expects to treat the notes as prepaid financial contracts with associated coupons, but the treatment is uncertain and could change with future IRS or legislative action.

Royal Bank of Canada is offering auto-callable contingent coupon barrier notes with a memory feature linked to the Russell 2000 Index, the VanEck Semiconductor ETF (SMH) and the Utilities Select Sector SPDR ETF (XLU). The notes pay a contingent coupon of $25 per $1,000 each quarter (an annual rate of 10.00%) when all underliers are at or above 70% of their initial values. Missed coupons can be paid later if conditions are met.

The notes are automatically called if, on designated observation dates starting in February 2027, each underlier is at or above its initial value, returning $1,000 plus due coupons. If held to maturity and not called, principal is protected only if the least performing underlier finishes at or above 60% of its initial value; below that level, repayment is reduced in line with the loss of the worst underlier, up to a total loss of principal.

The initial estimated value is expected to be $860–$910 per $1,000, below the public offering price, reflecting dealer compensation, hedging and RBC’s internal funding rate. The notes are unsecured RBC debt, not insured by U.S. or Canadian deposit insurers, and carry complex U.S. federal income tax treatment, generally as prepaid financial contracts with taxable coupons and potential withholding for non-U.S. holders.

Royal Bank of Canada is offering auto-callable contingent coupon barrier notes linked to the common stock of Lam Research Corporation. The notes pay a quarterly contingent coupon of $54.75 per $1,000 in any period when Lam’s share price is at or above a coupon threshold set at 50% of the initial share value.

If on any quarterly call observation date Lam’s share price is at or above its initial value, the notes are automatically called, and investors receive $1,000 plus the applicable coupon, with no further payments. If the notes are not called and Lam’s final share value on the valuation date is at or above the 50% barrier, investors receive full principal back plus any due coupon. If the final share value is below the barrier, repayment of principal is reduced one-for-one with Lam’s decline, and investors can lose most or all of their investment. All payments depend on Royal Bank of Canada’s ability to meet its obligations and are not insured by any government agency.

Royal Bank of Canada is offering issuer callable contingent coupon buffer notes linked to the Bloomberg US Large Cap VolMax Index. The notes pay a contingent coupon of $10.333 per $1,000 each month (approximately 12.40% per year) when the index closes at or above 60% of its initial value on the prior observation date, with a memory feature for missed coupons.

The notes have a 20% downside buffer: at maturity in 2031, if they have not been called and the index is at or above 80% of its initial value, investors receive full principal back; below that level, principal is reduced according to index losses beyond the buffer. RBC may call the notes monthly starting about one year after issuance, repaying $1,000 plus any due coupons. The price to the public is 100% of principal, with 1% underwriting discounts, and the initial estimated value is expected between $927 and $977 per $1,000, reflecting structuring and hedging costs. The VolMax index uses leverage, daily rebalancing and deductions (notional financing cost, a 6% annual deduction and transaction costs), which can significantly drag performance, and tax treatment involves noted U.S. federal income tax uncertainties.

Royal Bank of Canada plans to issue market-linked, auto-callable notes tied to the Class C stock of Zillow Group, Inc. Each security has a $1,000 face amount, with an initial estimated value expected between $917 and $967, below the original offering price.

The notes pay a contingent coupon at a rate of at least 10.80% per year, payable quarterly only if Zillow’s closing price on the calculation day is at or above 60% of the starting value. From May 2026 through November 2028, the notes are automatically called if Zillow closes at or above 90% of the starting value, returning the $1,000 face amount plus that period’s coupon.

If not called, at maturity in February 2029 investors receive $1,000 per note if Zillow’s ending value is at or above the 60% downside threshold; otherwise principal is reduced in line with Zillow’s decline, and up to the entire investment can be lost. The notes are unsecured senior obligations of Royal Bank of Canada, not insured and subject to the bank’s credit risk, with complex U.S. tax and withholding consequences described in the document.

Royal Bank of Canada is offering $15,000,000 of Redeemable Fixed Rate Notes with a 4.00% annual interest rate, paid semiannually each February 9 and August 9, beginning August 9, 2026. The Notes are scheduled to mature on February 9, 2029, if not redeemed earlier.

The Notes are callable at the bank’s option, in whole but not in part, on the August 9, 2027 interest date and on each interest payment date thereafter, with 10 business days’ notice. They are "bail-inable" under Canadian law, meaning they may be converted into common shares or written down in a resolution scenario, and they are not insured by Canadian or U.S. deposit insurers.

The price to the public is 100.00% of principal, with underwriting discounts and commissions of 0.25%, resulting in proceeds to Royal Bank of Canada of 99.75% of the principal amount.

Royal Bank of Canada is issuing auto-callable contingent coupon barrier notes linked to the EURO STOXX Banks Index and the SPDR S&P Oil & Gas Exploration & Production ETF. These structured notes pay a high contingent coupon but expose investors to potential loss of principal.

Investors may receive quarterly contingent coupons of $46.50 per $1,000 principal amount (4.65% per quarter, 18.60% per annum) if on each observation date both underliers are at or above 75% of their initial values. The notes are automatically called, returning $1,000 plus the contingent coupon, if on any call observation date both underliers are at or above their initial values.

If the notes are not called, principal repayment at maturity depends on the worst-performing underlier. Full principal is returned if its final value is at or above the 75% barrier; otherwise, repayment is reduced one-for-one with the underlier loss, up to total loss. The price to the public is 100% of principal, with underwriting discounts of 1.00% and proceeds to Royal Bank of Canada of 99.00% per $1,000, while the initial estimated value is expected between $910.00 and $960.00.

Royal Bank of Canada is offering auto-callable contingent coupon barrier notes linked to the weaker of Bank of America and ConocoPhillips stock. The offering totals $3,962,000 at 100% of principal, with net proceeds of $3,882,760 after a 2% underwriting discount.

The notes pay a quarterly contingent coupon of $26.125 per $1,000 (10.45% per annum) only if each stock stays at or above 55% of its initial value, with a memory feature for missed coupons. The notes can be automatically called quarterly if both stocks are at or above their initial levels, returning principal plus due coupons. If not called and the weaker stock finishes below its 55% barrier, principal is reduced one-for-one with the stock loss, and investors may lose most or all of their investment. The initial estimated value is $976.75 per $1,000, below the public offering price.

Royal Bank of Canada is offering auto-callable contingent coupon barrier notes with a memory coupon linked to the Russell 2000® Index, maturing on February 23, 2027. The notes are priced at 100% of principal, with a 1.00% underwriting discount and 99.00% proceeds to the bank.

Each note pays a quarterly contingent coupon of $23.325 per $1,000 if the index is at or above the coupon threshold on the observation date. The initial underlier value is 2,577.646, and the coupon threshold and barrier are 75% of that level, or 1,933.235. The notes are automatically called if the index is at or above the initial level on any call observation date.

If the notes are not called and the final index value is below the barrier, repayment of principal is reduced one-for-one with the index decline, potentially down to zero. The initial estimated value is expected to be between $930.00 and $980.00 per $1,000 face amount, reflecting structuring and hedging costs.

Royal Bank of Canada is offering $600,000 of Auto-Callable Contingent Coupon Barrier Notes with a memory coupon linked to the Class A common stock of Robinhood Markets, Inc. The notes pay a contingent coupon of $51.875 per $1,000 each quarter (20.75% per year) when the stock closes at or above the coupon threshold.

The initial underlier value is $87.07, with both the coupon threshold and barrier set at 50% of that level, or $43.54. If the notes are not called and the final stock value is at or above the barrier, investors receive full principal back plus any due coupons; below the barrier, repayment is reduced one-for-one with the stock decline, potentially down to zero.

The notes are issued at 100% of principal, with no underwriting commission, but the initial estimated value is $960.09 per $1,000, reflecting structuring and hedging costs. Payments depend entirely on Robinhood’s share performance and Royal Bank of Canada’s credit, and investors face the risk of losing a substantial portion or all of their principal at maturity.

Royal Bank of Canada is offering $791,000 of Auto-Callable Contingent Coupon Buffer Notes with Memory Coupon linked to the worst performer of Johnson & Johnson, Merck & Co., Inc. and UnitedHealth Group Incorporated. The Notes are unsecured RBC debt, not insured by Canadian or U.S. deposit insurers.

The Notes pay a monthly contingent coupon of $9.875 per $1,000 (11.85% per annum) only if each stock stays at or above 70% of its initial value on the observation date; missed coupons can be paid later if conditions are met. The Notes may be automatically called quarterly if all underliers are at or above their initial values, returning $1,000 plus due coupons. If held to the August 9, 2027 maturity and the least-performing stock finishes below 80% of its initial value, principal is reduced in line with the loss beyond a 20% buffer, and investors could lose a substantial portion of their investment. The initial estimated value is $979.54 per $1,000, below the public price, reflecting fees and hedging costs.

Royal Bank of Canada is offering auto-callable contingent coupon barrier notes linked to the common stock of SLB N.V. (SLB Limited). The notes are priced at 100% of principal, with 1.50% underwriting discounts and 98.50% of proceeds to Royal Bank of Canada.

The notes pay a monthly contingent coupon of $9.208 per $1,000 (0.9208% per month, 11.05% per year) only when SLB’s closing value is at or above 70% of its initial value. If SLB finishes below this 70% barrier at maturity and the notes have not been called, principal is reduced one-for-one with the underlier loss, up to a total loss. The initial estimated value is expected between $917 and $967 per $1,000, below the public offering price, reflecting fees and hedging costs.

Royal Bank of Canada is offering auto-callable contingent coupon barrier notes linked to the Nasdaq-100 Technology Sector Index, the Russell 2000 Index and the S&P 500 Index. The notes pay a quarterly contingent coupon of $27.125 per $1,000 in principal (10.85% per annum) only if each index stays at or above 70% of its initial level on the observation dates.

The notes can be automatically called quarterly starting in August 2026 if all three indices are at or above their initial values, returning $1,000 plus the applicable coupon. If not called, principal is protected at maturity only if the worst-performing index is at or above 60% of its initial value; below that level, repayment is reduced one-for-one with the loss in the worst index, and investors can lose most or all of their principal. The initial estimated value per $1,000 is expected to range from $932 to $982, below the public offering price, reflecting dealer compensation, hedging costs and Royal Bank of Canada’s funding rate.

Royal Bank of Canada is offering Auto-Callable Contingent Coupon Barrier Notes with a memory coupon linked to the worst performer among the Russell 2000 Index, VanEck Semiconductor ETF and State Street Utilities Select Sector SPDR ETF.

The Notes pay a contingent coupon of $25 per $1,000 (2.50% per quarter, 10.00% per year) only if, on each quarterly observation date, all three underliers are at or above 70% of their initial values. Missed coupons can be paid later if conditions are met, but may never be received.

The Notes are auto-callable: if on a call observation date all underliers are at or above their initial values, investors receive $1,000 per Note plus the coupon and any unpaid coupons, and the Notes terminate early.

At maturity, if not called, investors get $1,000 per Note plus any due coupons if the least performing underlier is at or above 60% of its initial value. If it is below 60%, principal is reduced one-for-one with the underlier loss, potentially to zero. The initial estimated value is expected to be between $858 and $908 per $1,000, below the public issue price, reflecting fees and hedging costs. All payments are subject to RBC’s credit risk.

Royal Bank of Canada is offering unsecured Enhanced Return Buffer Notes linked to an equally weighted basket of four equity indices: MSCI EAFE, MSCI Emerging Markets, EURO STOXX 50 and TOPIX. The notes are part of its Senior Global Medium-Term Notes, Series J.

The notes run from a February 11, 2026 issue date to a February 8, 2030 maturity. The initial Basket Value is set to 100, with a 20% downside buffer (Buffer Value 80) and a 123.35% participation rate in any positive basket performance, so gains are amplified above zero return.

If the Final Basket Value is at or above the Initial Basket Value, investors receive principal plus the amplified upside. If it is between the Initial Basket Value and the Buffer Value, principal is returned. Below the Buffer Value, principal is reduced in line with losses beyond 20%, so investors can lose a substantial portion of capital.

The price to the public is 100% of principal, with underwriting discounts and commissions of 0.60% and proceeds to Royal Bank of Canada of 99.40%. The initial estimated value is expected between $935 and $985 per $1,000, reflecting funding and hedging costs. The notes are not insured, are not bail-inable, and all payments depend on Royal Bank of Canada’s credit.