ROYAL BK CDA QUEN PFD 424B Filings

Royal Bank of Canada is issuing $291,000 of Auto-Callable Contingent Coupon Barrier Notes with a memory coupon linked to Delta Air Lines common stock, maturing in February 2028. Investors receive a quarterly contingent coupon of $30 per $1,000 (3% per quarter, 12% per year) only if Delta’s share price stays at or above 64% of the initial value on observation dates.

The notes may be automatically called quarterly once the underlier closes at or above its initial value, paying back principal plus due coupons with no further payments. If not called and Delta’s final value is below the 64% barrier, investors receive Delta shares worth less than principal and can lose most or all of their investment. The initial estimated value is $966.06 per $1,000, below the issue price, reflecting dealer discounts, structuring fees and hedging costs.

Royal Bank of Canada is issuing $1,301,000 of Auto-Callable Contingent Coupon Barrier Notes linked to Delta Air Lines common stock, maturing February 3, 2028. The notes pay a contingent quarterly coupon of $31.75 per $1,000 (3.175% per quarter, 12.70% per annum) only when Delta’s share price is at or above the coupon threshold of $39.53, which is 60% of the $65.89 initial value.

If on a quarterly call observation date the share price is at or above the initial value, the notes are automatically called at $1,000 plus the coupon. If not called and the final share price is at or above the 60% barrier, investors receive $1,000 plus any coupon; if it is below the barrier, they receive 15.1768 Delta shares per $1,000 (plus cash for fractions), which can mean large losses.

The public price is 100.00% of principal, with 1.85% in underwriting discounts and commissions. The bank’s initial estimated value is $969.81 per $1,000, lower than the offering price, and secondary market values may be lower. All payments are subject to Royal Bank of Canada’s credit risk.

Royal Bank of Canada is issuing three Enhanced Return Notes linked to the S&P 500 Market Agility 10 TCA 0.5% Decrement Index. The notes offer principal repayment at maturity plus leveraged upside through participation rates of 110%, 140% and 165%, based on the index’s performance.

Offerings have principal amounts of $22,000, $350,000 and $210,000, with initial estimated values per $1,000 of $969.11, $962.10 and $952.50. Investors face Royal Bank of Canada credit risk, complex index methodology, ongoing decrement and transaction fees that reduce index performance, and contingent payment debt instrument tax treatment.

Royal Bank of Canada is offering $8,177,000 of auto-callable contingent coupon barrier notes linked to the common stock of Broadcom Inc. The notes pay a contingent coupon of $11.25 per $1,000 (1.125% per month, 13.50% per year) for months when Broadcom’s closing price is at or above 57% of the initial $331.30 level.

The notes can be automatically called monthly starting July 30, 2026 if Broadcom’s price is at or above the initial level, returning $1,000 plus the coupon. If the notes are not called and Broadcom’s final value is below the 57% barrier, repayment of principal is reduced one-for-one with the stock’s loss, and investors can lose most or all of their money. The initial estimated value is $974.93 per $1,000, below the public offering price.

Royal Bank of Canada is offering Capped Enhanced Return Buffer Notes linked to the EURO STOXX 50® Index, with a total public offering size of $341,000. The notes have a two-year term from a January 30, 2026 trade date to a February 3, 2028 maturity.

The notes provide 300% participation in any positive index return, capped at a 21% maximum return, so the most an investor can receive at maturity is $1,210 per $1,000 of principal. A 15% buffer protects principal against moderate declines; if the index falls more than 15%, investors begin to lose principal.

The initial estimated value is $975.76 per $1,000, below the public offering price, reflecting fees, hedging costs and RBC’s funding rate. The notes are unsecured obligations of RBC, are not insured by deposit insurers, and may be difficult to sell before maturity, potentially at a substantial discount.

Royal Bank of Canada is issuing Auto-Callable Contingent Coupon Barrier Notes linked to the Bloomberg US Large Cap VolMax Index. The notes pay a contingent coupon of $12.50 per $1,000 (1.25% monthly, 15.00% per annum) when the index is at or above 60% of its initial level on observation dates.

The notes may be automatically called quarterly if the index is at or above its initial value, returning $1,000 plus the applicable coupon. If not called and the final index value is below the 60% barrier, repayment of principal is reduced one-for-one with the index loss, potentially to zero. The initial estimated value is $944.74 per $1,000, below the public offering price, and all payments are subject to RBC’s credit and these notes are not insured deposits.

Royal Bank of Canada is offering Accelerated Return Notes linked to the Class A common stock of Meta Platforms, Inc. at a public offering price of $10 per unit, for an aggregate public offering of $9,480,200. RBC expects proceeds, before expenses, of $9.825 per unit. These senior unsecured notes mature on March 29, 2027 and are subject to RBC’s credit risk.

The notes provide 300% leveraged exposure to increases in META stock, but returns are capped at a Redemption Amount of $13.465 per unit, a 34.65% maximum gain over principal. If the Ending Value is below the Starting Value of $738.31, investors lose principal in line with the stock’s decline, down to a total loss.

The initial estimated value is $9.72 per unit, below the $10 offering price, reflecting RBC’s internal funding rate, a $0.175 per-unit underwriting discount and a $0.05 per-unit hedging-related charge. The notes pay no interest or dividends, will not be listed on any exchange and may have limited secondary market liquidity.

Royal Bank of Canada is offering five separate auto-callable contingent coupon barrier notes with a memory coupon feature, each tied to a single U.S. technology stock: Marvell Technology, Cloudflare, Netflix, ServiceNow and NVIDIA. The notes pay quarterly contingent coupons only if the stock stays at or above a preset threshold on observation dates, with indicative annual rates ranging from 10.25% to 13.75% per $1,000 note.

If the reference stock closes at or above its initial value on a call observation date, the note is automatically redeemed early at par plus any due and unpaid coupons. If not called and the final stock value is below the barrier at maturity, repayment of principal is reduced one-for-one with the stock’s loss, and investors can lose a substantial portion or all of their investment. The initial estimated value of each note is lower than the 100% price to the public, reflecting dealer compensation, hedging costs and RBC’s internal funding rate.

Royal Bank of Canada is offering Accelerated Return Notes linked to the EURO STOXX 50® Index, with a public offering price of $10.00 per unit and a total offering of $46,727,410.00. These senior unsecured notes mature on March 29, 2027 and are subject to RBC’s credit risk.

The notes provide a 300% participation rate in index gains, capped at a Redemption Amount of $11.812 per unit, representing a maximum return of 18.12% over principal. If the Ending Value is at or below the Starting Value of 5,891.95, investors may lose some or all of their principal.

The initial estimated value is $9.73 per unit, lower than the $10.00 public offering price, reflecting RBC’s internal funding rate, an underwriting discount of $0.175 per unit and a hedging-related charge of $0.05 per unit. The notes pay no interest or dividends and will not be listed on any securities exchange.

Royal Bank of Canada is offering $25,016,910 of Accelerated Return Notes linked to the State Street Energy Select Sector SPDR ETF. Each note has a $10 principal amount, a term of about 14 months, and matures on March 29, 2027.

The notes provide 300% participation in any increase of the ETF, but gains are capped at $12.816 per unit, a 28.16% maximum return. If the ETF’s ending value is below its $50.51 starting value, investors lose principal on a 1-for-1 basis, down to a total loss.

The notes pay no interest and do not pass through dividends. All payments depend on RBC’s credit. The public offering price exceeds the initial estimated value of $9.80 per unit because of RBC’s internal funding rate, a $0.175 underwriting discount, and a $0.05 per-unit hedging-related charge.

Royal Bank of Canada is offering auto-callable contingent coupon barrier notes linked to the least performing of the EURO STOXX Banks Index and the SPDR S&P Oil & Gas Exploration & Production ETF. The notes are issued at 100% of principal, with proceeds to RBC of 99% after underwriting discounts.

The minimum investment is $1,000, in $1,000 denominations. If the notes are not called and, on a coupon observation date, both underliers are at or above 75% of their initial values, investors receive a quarterly contingent coupon of $45.25 per $1,000, equal to 4.525% per quarter (18.10% per year).

The notes can be automatically called quarterly if each underlier is at or above its initial value, in which case investors receive $1,000 plus the due coupon and no further payments. If held to maturity in 2029 and the least performing underlier finishes below its 75% barrier, repayment of principal is reduced one-for-one with the underlier’s loss, and investors can lose a substantial portion or all of their investment. All payments depend on RBC’s credit and the notes are not insured or bail‑inable.

Royal Bank of Canada is offering two auto-callable contingent coupon barrier notes, each linked to a single stock: common shares of JPMorgan Chase & Co. and common shares of Microsoft Corporation. Investors choose one or both offerings, each with separate terms.

The notes pay quarterly contingent coupons only if the relevant underlier stays at or above a preset coupon threshold on observation dates. Indicative annual coupon ranges are 9.25%–10.25% for the JPMorgan note and 9.00%–10.00% for the Microsoft note. The notes can be automatically called each quarter if the underlier closes at or above its initial value, returning principal plus the due coupon.

If not called, principal is protected at maturity only if the final underlier value is at or above the barrier level; otherwise repayment is reduced one-for-one with the underlier’s loss, and investors can lose most or all of their principal. Initial estimated values per $1,000 note are below par, and all payments depend on RBC’s credit.

Royal Bank of Canada is issuing $1,855,000 of senior unsecured market-linked notes tied to the Nasdaq-100 Index®, maturing on February 3, 2028. Each security has a $1,000 face amount and offers 200% leveraged upside, capped at a 20% maximum return, for a maximum maturity payment of $1,200 per security.

The notes provide a 10% downside buffer: if the index ending value is at or above 90% of the starting value, investors receive at least $1,000. Below that threshold, losses are 1‑for‑1 beyond the buffer and can reach up to 90% of principal. The initial estimated value is $965.16 per security, below the $1,000 offering price, reflecting funding, hedging costs, and agent discounts. Payments depend entirely on RBC’s credit, the notes pay no interest, may have limited secondary liquidity, and involve complex U.S. and Canadian tax considerations.

Royal Bank of Canada is offering senior unsecured Notes linked to an equally weighted basket of ten large-cap U.S. equities, including Cisco, Chevron, Coca-Cola, McDonald’s, PepsiCo and Verizon. The Basket’s initial value is set to 100 on the February 24, 2026 Trade Date.

The Notes mature on August 28, 2031, with a Valuation Date of August 25, 2031. At maturity, investors receive their $1,000 principal plus a positive return if the Final Basket Value exceeds the Initial Basket Value, calculated using the Basket Return and a Participation Rate of at least 100%. If the Basket is flat or down, investors receive only the principal, exposing them to issuer credit risk and opportunity cost but not equity downside on maturity payment.

The price to the public is 100% of principal, with underwriting discounts of 4% and proceeds to Royal Bank of Canada of 96%. The initial estimated value is expected between $905 and $955 per $1,000, reflecting internal funding, selling concessions, referral fees and hedging costs, and secondary market liquidity may be limited.

Royal Bank of Canada is offering Accelerated Return Notes linked to the S&P 500® Index with a total public offering price of $87,634,230. The notes have a $10 principal amount per unit, mature on March 29, 2027, and are unsecured senior debt subject to RBC’s credit risk.

Investors receive 300% leveraged upside to the index, capped at a maximum Redemption Amount of $11.286 per unit, a 12.86% gain. If the index is flat, principal is returned; if it falls, losses match the index decline, down to a total loss. The initial estimated value is $9.76 per unit, below the $10 price, reflecting RBC’s internal funding rate, a $0.175 underwriting discount and a $0.05 hedging-related charge. The notes pay no interest or dividends and will not be listed on an exchange.

Royal Bank of Canada is offering auto-callable contingent coupon barrier notes tied to the worst performer of the Russell 2000, S&P 500 and EURO STOXX 50 indices. The notes pay a quarterly contingent coupon of at least 2.0625% (at least 8.25% per year) only if all three indices stay at or above 70% of their initial level on the observation date.

The notes can be automatically called quarterly starting in 2027 if each index is at or above its initial level, in which case holders receive $1,000 per note plus the applicable coupon. If the notes are not called and the worst-performing index finishes below the 70% barrier at maturity in 2030, repayment of principal is reduced one-for-one with that index loss, up to a total loss of principal. The initial estimated value is expected between $890 and $940 per $1,000, below the $1,000 public price, reflecting fees and hedging costs.

Royal Bank of Canada is offering Autocallable Strategic Accelerated Redemption Securities® linked to an international equity index basket, maturing in February 2029, with a $10 principal amount per unit. These are senior unsecured debt securities, not insured or collateralized, and are subject to RBC’s credit risk.

The notes can be automatically called if the basket value on an Observation Date is at or above the Starting Value, paying preset Call Amounts with premiums ranging from 8.50%–9.50% on the first Observation Date to 25.50%–28.50% on the final Observation Date. If never called and the Ending Value is below the Threshold Value (equal to the Starting Value), investors lose some or all principal.

The underlying basket combines the EURO STOXX 50® (40%), FTSE® 100 (20%), Nikkei Stock Average (20%), Swiss Market Index (7.50%), S&P®/ASX 200 (7.50%) and FTSE® China 50 (5%). The initial estimated value is expected between $9.10 and $9.60 per unit versus the $10.00 public price, reflecting RBC’s internal funding rate, a $0.20 underwriting discount and a $0.05 hedging-related charge per unit.

Royal Bank of Canada is offering $5,499,000 of Auto-Callable Contingent Coupon Barrier Notes with Memory Coupon linked to Amazon, Bank of America and Alphabet Class A stock. The notes pay a contingent coupon of $29.625 per $1,000 (11.85% per year) only if each stock stays at or above 50% of its initial level on quarterly observation dates.

If all three underliers are at or above their initial values on any call observation date, the notes are automatically redeemed at $1,000 plus due coupons. If not called and the worst-performing stock finishes below its 50% barrier, investors receive shares of that stock instead of principal, exposing them to substantial or even total loss of their investment. All payments depend on Royal Bank of Canada’s credit.

Royal Bank of Canada plans to issue three Auto-Callable Contingent Coupon Barrier Notes with Memory Coupon, each tied to a single stock: Freeport-McMoRan, Halliburton, or UnitedHealth. The notes target annual contingent coupon rates between 10.00% and 11.50%, paid quarterly only when the relevant stock closes at or above a preset coupon threshold.

Each note can be automatically called on scheduled observation dates if the stock is at or above its initial level, repaying principal plus due coupons. If not called, principal is protected at maturity only if the final stock value stays at or above a barrier level set as 50%, 65% or 70% of the initial value, depending on the underlier; otherwise, repayment falls in line with the stock’s loss, and investors can lose most or all of their principal.

The notes are unsecured senior debt of Royal Bank of Canada, are not insured by Canadian or U.S. agencies, and have initial estimated values between $900 and $955 per $1,000, below the public offering price. The pricing supplement highlights complex risk and tax considerations, including potential U.S. federal income tax uncertainty and possible withholding for non-U.S. holders.

Royal Bank of Canada is offering redeemable fixed rate notes that pay 4.50% per annum, starting August 17, 2026 and maturing on February 17, 2033, with semiannual interest payments each February 17 and August 17.

The notes are callable at the bank’s option in whole, but not in part, on the February 17, 2028 interest date and on each interest payment date thereafter, upon 10 business days’ notice. They are unsecured senior bail-inable notes, subject to Canadian bail-in powers, and all payments depend on Royal Bank of Canada’s credit. U.S. tax counsel expects them to be treated as debt issued without original issue discount for federal income tax purposes.

Royal Bank of Canada is offering Bearish Performance Leveraged Upside Principal at Risk Securities (“Bearish PLUS”) linked inversely to the S&P 500® Index, maturing on February 16, 2027. Each note has a stated principal of $1,000 and no interest payments.

If the index falls, investors receive the principal plus 300% of the inverse index return, capped at a maximum payment of $1,454 per note (145.40% of principal). If the index rises, investors lose 1% of principal for every 1% index increase, and the payment can be reduced to $0, meaning the entire investment may be lost. The notes are senior unsecured debt under RBC’s Medium-Term Notes, Series J, not exchange‑listed, and all payments depend on RBC’s credit. The initial estimated value per note is expected between $921 and $971, below the $1,000 public offering price.

Royal Bank of Canada is offering auto-callable contingent coupon barrier notes linked to the Bloomberg US Large Cap VolMax Index, maturing on February 21, 2031. The notes pay a monthly contingent coupon of $15.208 per $1,000 (1.5208% per month, 18.25% per year) only when the index closes at or above 70% of its initial value on the prior observation date.

The notes can be automatically called beginning in February 2027 if the index is at or above its initial level, returning $1,000 plus the coupon and ending the investment. At maturity, if not called, investors receive full principal back only if the final index level is at or above a 60% barrier; otherwise, repayment is reduced one-for-one with the index loss, and principal can be largely or fully lost.

The initial estimated value is expected between $900 and $950 per $1,000, below the public offering price, reflecting internal funding and hedging costs. The VolMax index uses leverage, a 40% volatility target and daily deductions, which can significantly drag performance and increase risk.

Royal Bank of Canada is offering redeemable fixed rate senior notes due February 17, 2038 as part of its Series J medium-term note program. The notes pay fixed interest of 5.00% per annum, with interest paid annually on February 17, starting in 2027.

The notes are issued in minimum denominations of $1,000 and may be redeemed at the bank’s option, in whole but not in part, on the interest payment date scheduled for February 17, 2028 and on each annual interest payment date thereafter. They are subject to Canadian bail-in powers, meaning they can be converted into common shares or written down under the CDIC Act in a resolution scenario. RBC Capital Markets, LLC acts as underwriter, purchasing the notes at $975 to $1,000 per $1,000 principal amount and may reallow part of its underwriting discount to selected dealers.

Royal Bank of Canada is offering two Capped Enhanced Return Buffer Notes linked separately to the Nasdaq-100 Index and the Russell 2000 Index. The notes provide 150% participation in positive index performance, subject to a maximum return range of 20.50%–22.50% for the Nasdaq-100 note and 23%–25% for the Russell 2000 note.

Both notes include a 10% downside buffer; if the index falls more than 10%, investors lose principal based on the loss beyond this buffer. The price to the public is 100% of principal, with underwriting discounts of 2.25% and an initial estimated value between $912 and $962 per $1,000, reflecting fees and hedging costs. All payments depend on RBC’s credit and the notes are not insured or bail-inable.

Royal Bank of Canada is offering Capped Enhanced Return Buffer Notes linked to the S&P 500 Index. The Notes are unsecured debt and all payments depend on the bank’s credit.

For each $1,000 Note, investors receive 125% of any positive S&P 500 return, subject to a Maximum Return of 18%–20%, so the maximum maturity payment is $1,180–$1,200. If the index is flat or down by up to 10%, investors receive the full $1,000 back at maturity.

The Notes include a 10% downside buffer, but if the S&P 500 falls by more than 10%, principal is reduced on a 1‑for‑1 basis beyond that level. Hypothetical examples show that a 50% index decline would lead to a $600 payment per $1,000, a 40% loss of principal.

The price to the public is 100% of principal, with underwriting discounts of 2.25% and proceeds to Royal Bank of Canada of 97.75%. The initial estimated value is expected to be $917–$967 per $1,000, reflecting selling costs and hedging. The Notes do not pay coupons, are not insured, and may be hard to sell before maturity.

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 notes pay a contingent coupon of $10 per $1,000 each month (12.00% per annum) when all three indices stay at or above 75% of their initial values on the relevant observation date.

The notes can be automatically called quarterly, starting about six months after issuance, if each index is at or above its initial value, returning $1,000 plus the applicable coupon. At maturity in 2029, if the notes are not called and the worst-performing index is at or above 70% of its initial value, investors receive full principal back (and any due coupon). If the worst-performing index finishes below 70%, repayment of principal is reduced one-for-one with that index’s loss, potentially to zero, and all payments depend on Royal Bank of Canada’s credit. The initial estimated value per $1,000 is expected to be between $926 and $976, below the public offering price.

Royal Bank of Canada is offering auto-callable contingent coupon barrier notes with a memory feature linked to the common stock of Delta Air Lines, Inc. Each Note pays a contingent coupon of $30 per $1,000 (3.00% per quarter, 12.00% per year) when Delta’s share price is at or above a coupon threshold set at 64% of the initial share value.

The Notes can be automatically called quarterly if Delta’s share price is at least equal to its initial level, in which case holders receive principal back plus any due coupons and the product terminates early. If the Notes are not called and Delta closes below the 64% barrier at maturity, investors receive Delta shares based on a physical delivery amount and can lose a substantial portion or all of their principal.

The initial estimated value is expected to be between $915 and $965 per $1,000 of principal, below the public offering price, reflecting fees, hedging costs and RBC’s funding rate. All payments depend on RBC’s credit. U.S. tax counsel currently views the Notes as prepaid financial contracts with associated coupons taxed as ordinary income, but this treatment is uncertain and could change.

Royal Bank of Canada is offering redeemable fixed rate notes due February 13, 2031. The notes pay fixed interest of 4.25% per annum, with semiannual payments on February 13 and August 13, starting August 13, 2026.

The notes are callable at the bank’s option, in whole but not in part, on the February 13, 2028 interest payment date and on each interest payment date thereafter, with 10 business days’ prior notice. Investors receive principal plus the relevant interest payment at redemption or at maturity, subject to Royal Bank of Canada’s credit risk.

The minimum investment is $1,000, in denominations of $1,000. The notes are bail-inable under Canadian law, meaning they may be converted into common shares or varied or extinguished under the CDIC Act in a bail-in conversion and are not insured by Canadian or U.S. deposit insurance agencies.

Royal Bank of Canada is offering Capped Return Dual Directional Buffer Notes linked to the S&P 500® Index. The notes are unsecured debt of the bank, priced at 100% of principal with a minimum investment of $1,000 and are not insured by Canadian or U.S. deposit insurance schemes.

The notes run from a Trade Date of February 27, 2026 to a Maturity Date of March 2, 2028. If the index rises, investors receive 100% of the index gain, capped at a Maximum Upside Return of 18%, so the maximum payment is $1,180 per $1,000 note.

If the index falls but stays within a 15% Buffer Percentage, investors earn a positive “dual directional” return equal to the absolute value of the index loss, up to 15%. Below the 15% buffer, principal is reduced, as shown by examples such as a 50% index decline returning $650 per $1,000. The initial estimated value is expected between $930 and $980 per $1,000, reflecting underwriting, hedging costs and the bank’s internal funding rate.

Royal Bank of Canada is offering Capped Return Dual Directional Buffer Notes linked to the S&P 500 Index, maturing on February 29, 2028. The Notes are priced at 100% of principal, with underwriting discounts and commissions of 2.25%, so proceeds to the bank are 97.75%.

At maturity, holders receive $1,000 plus a return based on index performance. Upside participation is 100% but capped at a maximum upside return of 18%, meaning the most an investor can receive is $1,180 per $1,000. There is a 10% downside buffer: if the index is down but not by more than 10%, investors gain the absolute value of the loss, up to 10%. If the index falls more than 10%, principal is reduced beyond the buffer and investors can lose a substantial portion of their investment.

The initial estimated value is expected to range from $915 to $965 per $1,000, below the public offering price, reflecting internal funding rates, selling concessions, referral fees and hedging costs. The Notes are unsecured debt obligations of Royal Bank of Canada, not insured by Canadian or U.S. deposit insurance agencies, and all payments are subject to the bank’s credit risk and complex U.S. tax treatment.

Royal Bank of Canada is offering Dual Directional Buffer Digital Notes linked to the S&P 500® Index. The $1,000 minimum-denomination notes pay a fixed 7.10% Digital Return per $1,000 at maturity if the index finishes at or above 92.90% of its initial level.

If the index falls but remains at or above 86% of its initial level, investors receive a positive return equal to the absolute value of the index move, capped at 14%. Below 86%, principal is reduced based on the index loss plus a 14% buffer. The initial estimated value is expected between $940.00 and $990.00 per $1,000, reflecting fees, hedging costs and RBC’s funding rate. All payments depend on RBC’s credit and the product carries complex market, valuation and tax risks.

Royal Bank of Canada is offering Capped Enhanced Return Buffer Notes linked to the EURO STOXX 50® Index. The Notes are priced at 100% of principal, with underwriting discounts of 1.00% and 99.00% of proceeds to Royal Bank of Canada.

The Notes offer a 300% participation rate in positive index returns, subject to a Maximum Return between 22% and 24%, so the maximum payment at maturity will be $1,220 to $1,240 per $1,000. A 15% downside buffer applies; below that, investors lose principal based on index losses in excess of the buffer.

The initial estimated value is expected to range from $927.70 to $977.70 per $1,000, less than the public offering price, reflecting internal funding rates, fees and hedging costs. Payments at maturity depend entirely on index performance and are subject to Royal Bank of Canada’s credit risk.

Royal Bank of Canada plans to issue Capped Enhanced Return Buffer Notes linked to the EURO STOXX 50® Index, maturing on February 29, 2028. These are unsecured senior debt securities, not insured deposits and not subject to Canadian bail-in conversion.

Each note has a $1,000 principal amount, priced at 100% to the public, with proceeds to Royal Bank of Canada of 97.75% after underwriting discounts. The notes offer a 200% participation in positive index returns, capped by a maximum return of 20%–22%, so the maximum payment at maturity is $1,200–$1,220 per $1,000.

The structure includes a 15% downside buffer: if the index decline is within this range, principal is repaid in full at maturity. If the EURO STOXX 50® falls more than 15%, investors lose principal on a 1:1 basis beyond the buffer, with illustrated outcomes down to $150 per $1,000 if the index falls 100%.

The initial estimated value is expected between $913.90 and $963.90 per $1,000, below the public offering price due to hedging costs, internal funding rates, underwriting discounts and referral fees. The notes have limited liquidity, potential for wide bid/ask spreads, and all payments are subject to Royal Bank of Canada’s credit risk and detailed U.S. tax considerations.

Royal Bank of Canada is offering three Capped Enhanced Return Buffer Notes, each linked separately to the Nasdaq‑100, Russell 2000 and S&P 500 indices. The notes run from a February 27, 2026 trade date to a March 2, 2028 maturity.

Each $1,000 note offers 150% participation in any positive index performance, up to a maximum return range of 24%–26% (NDX), 27%–29% (RTY) and 20.50%–22.50% (SPX). A 10% buffer protects against moderate losses, but investors lose principal if the linked index falls more than 10%.

The price to the public is 100% of principal, with underwriting discounts of 1% and 99% of proceeds to Royal Bank of Canada. The initial estimated value per $1,000 will be below the public offering price, and the notes are unsecured obligations subject to the bank’s credit risk, with limited or no secondary market expected.

Royal Bank of Canada is issuing $3,948,000 of market-linked, auto-callable notes tied to the worst performer between Alphabet Class A and NVIDIA stock, maturing February 2, 2028.

The notes pay a 14.00% per annum contingent monthly coupon only if the lowest-performing stock on each calculation day stays at or above 60% of its starting value. If from July 2026 to December 2027 the worst stock is at or above its starting value, the notes are automatically called at par plus a final coupon. If not called, principal is protected at maturity only if the worst stock is at or above 50% of its starting value; below that, investors lose more than 50%, up to all principal. The initial estimated value is $965.68 per $1,000 note, and the securities are unsecured, unlisted obligations subject to RBC credit risk.

Royal Bank of Canada is offering Geared Buffer Digital Notes linked to the common stock of UnitedHealth Group Incorporated. The notes have a minimum investment of $10,000 and a term running from an issue date of February 4, 2026 to a maturity date of February 17, 2027, subject to possible postponement.

Per $10,000 principal, investors receive a fixed Digital Return of 16.31% at maturity if the final UNH share value is at or above the buffer value, set at 85% of the $292.29 initial underlier value. If the final value falls below the buffer, investors receive shares of UNH (plus cash for fractional shares) based on a physical delivery amount of 40.2495 shares, which can lead to substantial loss of principal.

The price to the public is 100% of principal, with a 1.00% underwriting discount, so proceeds to Royal Bank of Canada are 99%. The initial estimated value is expected between $9,320 and $9,820 per $10,000, reflecting internal funding and hedging costs, and may differ from secondary market values. The notes are unsecured senior debt of Royal Bank of Canada and are subject to the issuer’s credit risk.

Royal Bank of Canada is offering Auto-Callable Enhanced Return Barrier Notes linked to an equally weighted basket of U.S. bank stocks: Bank of America, Citigroup, Goldman Sachs, Morgan Stanley and Wells Fargo. The Notes are unsecured debt of RBC and are not insured by U.S. or Canadian deposit insurance agencies.

The Notes may be automatically called on March 9, 2027 if the basket is at or above its initial level, paying $1,110 per $1,000 of principal and then terminating. If not called, investors receive at maturity either enhanced upside with a 150% participation rate when the basket is above its initial value, full principal back if the basket is between 70% and 100% of its initial value, or a proportional loss of principal if the basket finishes below 70%.

The initial basket value is set to 100, and the barrier is 70. The price to the public is 100% of principal, with underwriting discounts of 2.50%, so RBC’s proceeds are 97.50%. RBC’s initial estimated value is expected to be between $906.68 and $956.68 per $1,000, reflecting internal funding and hedging costs. Payments depend entirely on RBC’s credit quality and the basket’s performance, and the issuer highlights significant market, credit, tax and conflict-of-interest risks.

Royal Bank of Canada is offering Auto-Callable Enhanced Return Barrier Notes linked to an equally weighted basket of five large U.S. bank stocks: Bank of America, Citigroup, Goldman Sachs, Morgan Stanley and Wells Fargo. The notes are senior unsecured debt of RBC and are not insured by any government agency.

Investors pay 100% of principal, with 1.00% in underwriting discounts and 99.00% of proceeds going to RBC. The notes may be automatically called in March 2027 if the basket is at or above its initial value, paying $1,150 per $1,000 of principal. If held to March 2029 and not called, upside exposure is enhanced with a 150% participation rate, while a 70% barrier on the basket provides contingent principal protection. Below the barrier, investors are fully exposed to downside and can lose most or all of their investment. RBC’s initial estimated value is expected between $927.42 and $977.42 per $1,000, reflecting hedging costs, fees and RBC’s funding rate.

Royal Bank of Canada is offering auto-callable contingent coupon barrier notes with a memory coupon linked to the common stock of Blackstone Inc. (BX), maturing on February 3, 2028. The notes are issued in minimum denominations of $1,000.

Investors can receive a quarterly contingent coupon of $25.875 per $1,000 (an annual rate of 10.35%) if, on the relevant observation date, BX is at or above the coupon threshold, which equals the barrier level of 60% of the initial value ($85.76 vs. $142.94). Missed coupons may be paid later under the memory feature if conditions are satisfied.

The notes are automatically called if BX is at or above its initial value on specified quarterly call observation dates, returning $1,000 per note plus due coupons, with no further payments. If not called and BX finishes below the barrier at maturity, repayment is reduced one-for-one with BX’s decline, and investors can lose a substantial portion or all of their principal. All payments depend on Royal Bank of Canada’s creditworthiness, and the initial estimated value per note is expected to be below the public offering price.

Royal Bank of Canada is offering Enhanced Return Notes linked to the S&P 500 Market Agility 10 TCA 0.5% Decrement Index. The Notes pay back $1,000 at maturity per $1,000 invested if the index is flat or down, and provide 105% participation in any positive index return.

The price to the public is 100% of principal, with underwriting discounts of 3.00% and proceeds to Royal Bank of Canada of 97.00%. The initial estimated value is expected between $897.00 and $947.00 per $1,000, reflecting internal funding and hedging costs. The product embeds multiple index-level fees and transaction costs that reduce index performance, and all payments are subject to Royal Bank of Canada’s credit risk.

Royal Bank of Canada is offering unsecured Enhanced Return Notes linked to the S&P 500 Market Agility 10 TCA 0.5% Decrement Index. The Notes provide 105% participation in any positive index return, paying $1,000 plus leveraged upside at maturity, but only return principal if the index is flat or down.

The initial estimated value per $1,000 Note is expected to be between $913 and $963, below the public offering price, reflecting dealer compensation, hedging costs and the bank’s funding rate. The Underlier is a complex, rules-based strategy index with a 10% volatility target, a 0.5% annual decrement fee, transaction costs and funding costs that all reduce performance over time.

The Notes carry RBC credit risk, are not insured, and are intended to be held to maturity. U.S. tax treatment is expected to follow contingent payment debt instrument rules, requiring annual interest income accruals based on a comparable yield, with special considerations for Non-U.S. holders under Section 871(m).

Royal Bank of Canada is offering unsecured Enhanced Return Notes linked to the S&P 500 Market Agility 10 TCA 0.5% Decrement Index, maturing on February 27, 2031. The notes provide 140% participation in positive index performance, with full principal repayment at maturity if the final index value is at or below its initial level.

The notes are issued at 100% of principal, with underwriting discounts and commissions of 4.00%, so RBC’s proceeds are 96.00%. The initial estimated value is expected between $879 and $929 per $1,000 note, reflecting internal funding and hedging costs. The underlier is subject to a 0.5% annual decrement fee, transaction costs and funding costs, which reduce index performance.

RBC expects to treat the notes as contingent payment debt instruments for U.S. federal income tax purposes, requiring investors to accrue interest income on a constant yield basis. For non‑U.S. holders, RBC currently expects Section 871(m) dividend‑equivalent withholding will not apply, but the IRS could disagree. All payments depend on RBC’s credit and the notes are not insured by U.S. or Canadian deposit insurers.

Royal Bank of Canada is offering unsecured market-linked notes that pay monthly contingent coupons at a rate of at least 10.15% per year, but only if the lowest performing of Apple, Berkshire Hathaway Class B, or Northrop Grumman closes at or above 60% of its starting value on each calculation day.

The notes can be auto-called monthly from August 2026 through January 2029 if that lowest stock is at or above its starting value, returning the $1,000 face amount plus a final coupon. If not called, at maturity in February 2029 investors receive $1,000 only if the lowest stock is at or above 60% of its starting value; otherwise, repayment falls in line with the stock’s decline and can reach a total loss.

The initial estimated value per $1,000 note is expected between $917 and $967, below the original offering price, reflecting fees, hedging costs and RBC’s funding rate. The notes do not pay dividends, offer no upside participation in any stock, are not listed on an exchange, and all payments depend on RBC’s credit.

Royal Bank of Canada is offering Autocallable Strategic Accelerated Redemption Securities linked to the EURO STOXX 50 Index, issued in $10 units as senior unsecured debt. Payments depend entirely on index performance and RBC’s credit, with no periodic interest and no principal protection.

The notes are automatically called if the index closes at or above its starting level on observation dates about one, two, or three years after pricing, paying per unit approximately $10.95–$11.05, $11.90–$12.10, or $12.85–$13.15, respectively. If never called and the final index level is below the starting level, investors have 1‑to‑1 downside exposure and can lose up to their entire investment.

The public offering price is $10.00 per unit, including a $0.20 underwriting discount and an additional $0.05 per unit hedging-related charge, so RBC’s proceeds are $9.80 per unit. The initial estimated value on the pricing date is expected to range from $9.06 to $9.56 per unit, reflecting RBC’s internal funding rate and hedging costs. The notes are not listed, and secondary market liquidity is expected to be limited.

Royal Bank of Canada is offering $1,908,000 of Auto-Callable Enhanced Return Barrier Notes linked to the worst performer of Alphabet Class A, Microsoft and NVIDIA, maturing in February 2029. The notes are priced at 100% of principal, with 97.75% of proceeds to the bank.

The notes may be automatically called in February 2027 if all three stocks are at or above their initial levels, paying $1,452.50 per $1,000 of principal (145.25%). If not called, at maturity investors get 300% of any positive return of the least performing stock, full principal back if that stock is at or above 60% of its initial level, and one-for-one downside below that barrier, potentially losing the entire principal. The initial estimated value is $963.27 per $1,000, and all payments depend on Royal Bank of Canada’s credit and complex tax treatments.

Royal Bank of Canada is issuing three primary Auto-Callable Contingent Coupon Barrier Notes linked separately to Goldman Sachs, Eli Lilly and SLB common stock, with aggregate principal of $1,519,000, $956,000 and $1,060,000, respectively. Each note pays a 10.00% per annum contingent coupon, evaluated quarterly.

Coupons are paid only when the relevant stock stays at or above its coupon threshold, and notes are automatically called if the stock is at or above its initial value on a call observation date. At maturity, if not called, full principal is repaid only if the final stock level is at or above the barrier (65%–70% of the initial value); otherwise repayment is reduced one-for-one with the underlier’s decline, and investors can lose most or all of their principal.

Royal Bank of Canada plans to issue auto-callable contingent coupon buffer notes linked to the worst performer among Johnson & Johnson, Merck & Co., and UnitedHealth Group common stocks. The notes pay a contingent coupon of $9.875 per $1,000 monthly (about 11.85% per year) when all underliers stay at or above 70% of their initial values.

The notes have a 20% downside buffer: if not called and the least performing stock finishes at or above 80% of its initial value, investors receive full principal back plus any due coupons. Below that level, principal is reduced based on the stock’s loss, and investors can lose a substantial portion of their investment. The price to the public is 100% of principal, while Royal Bank of Canada expects an initial estimated value between $921.50 and $971.50 per $1,000, reflecting fees, hedging costs and its funding rate.

Royal Bank of Canada is offering auto-callable contingent coupon barrier notes linked to the common stock of Delta Air Lines, Inc. Each note is sold at 100% of principal, with proceeds to the bank of 98.25% after underwriting discounts.

The notes pay a contingent quarterly coupon of at least 2.4375% (at least 9.75% per year) only when Delta’s share price is at or above a threshold set at 50% of the initial value. The notes can be automatically called quarterly if Delta’s stock is at or above its initial value, returning principal plus the applicable coupon.

If the notes are not called and Delta’s final share value is below the 50% barrier, investors receive Delta shares worth less than their principal, up to a total loss. The initial estimated value per $1,000 note is expected to be $927.50–$977.50, below the public offering price, and all payments depend on RBC’s credit. The tax discussion highlights that U.S. federal income tax treatment is uncertain and may change, and non-U.S. holders may face 30% withholding on coupons.

Royal Bank of Canada is offering five separate auto-callable contingent coupon barrier notes with a memory coupon feature, each linked to a different U.S. equity: Broadcom, Best Buy, Constellation Energy, CrowdStrike and Vertiv. The notes pay quarterly contingent coupons only if the linked share price stays at or above a preset coupon threshold on observation dates, with coupons missed in one period potentially paid later if conditions are met.

The notes can be automatically called quarterly starting in July 2026 if the underlier closes at or above its initial value, returning principal plus any due coupons. If not called, investors receive principal at maturity in January 2029 only if the final share value is at or above a barrier level set between 50% and 60% of the initial value for each underlier; below the barrier, maturity payment is reduced in line with the share decline and can result in a substantial or total loss of principal. Initial estimated values per $1,000 note are below the public offering price, and the tax discussion highlights that the notes are expected to be treated as prepaid financial contracts with coupons taxed as ordinary income, with additional withholding and Section 871(m) considerations for non-U.S. holders.