ROYAL BK CDA QUEN PFD 424B Filings

Royal Bank of Canada is offering $3,411,000 of Redeemable Fixed Rate Notes paying a fixed 5.00% per annum, with a price to the public of 100.00% and proceeds to the bank of 98.89% of principal. The minimum investment is $1,000, in increments of $1,000.

The Notes pay interest annually each November 25 from 2026 to the scheduled maturity on November 25, 2037, unless redeemed earlier. Royal Bank of Canada may redeem the Notes, in whole but not in part, on the November 25, 2027 interest date and on any interest date thereafter, paying principal plus the applicable interest payment. The Notes are unsecured senior debt subject to Canadian bail-in powers, meaning they can be converted into common shares or written down by regulators in a resolution scenario, and they are not insured by Canadian or U.S. deposit insurers.

Royal Bank of Canada is offering senior unsecured notes whose payoff is linked to a weighted basket of five major non-U.S. equity indices: EURO STOXX 50® (38%), TOPIX® (26%), FTSE® 100 (17%), Swiss Market Index (11%) and S&P®/ASX 200 (8%). The notes pay no interest and are not listed or redeemable prior to maturity.

At maturity, for each $1,000 note you receive cash based on the basket return. If the final basket level is at or above the initial level, you receive the greater of a threshold settlement amount, expected between $1,179.30 and $1,210.90, or $1,000 plus the basket gain. If the final basket level is below the initial but at or above a 90% buffer level, you receive $1,000. Below the buffer, losses accelerate at about 1.1111% for each 1% basket loss beyond the 10% buffer, and you could lose your entire principal.

The initial estimated value is expected between $961.70 and $991.70 per $1,000, reflecting hedging costs and issuer profit, and the notes are subject to Royal Bank of Canada’s credit risk and limited secondary market liquidity.

Royal Bank of Canada is issuing Auto-Callable Contingent Coupon Barrier Notes linked to the worst performer of the Nasdaq-100 Index, Russell 2000 Index and Energy Select Sector SPDR Fund. The notes have a principal amount of $1,240,000, priced at 100% of face value, with 2.50% in underwriting discounts and 97.50% of proceeds to the bank.

Investors may receive a monthly contingent coupon of $8.333 per $1,000 (10.00% per year) only if each underlier stays at or above 75% of its initial value on the observation dates. The notes can be automatically called from May 2026 if all underliers are at or above their initial levels, returning $1,000 plus the coupon. If held to maturity and the weakest underlier is at or above 60% of its initial value, principal is repaid; below 60%, repayment is reduced one-for-one with the underlier loss, potentially to zero. The initial estimated value is $955.67 per $1,000, below the public offering price, and returns depend on RBC’s credit and complex tax treatment.

Royal Bank of Canada is issuing $3,275,000 Fixed Coupon Barrier Notes linked to the least-performing of JPMorgan Chase and Microsoft common stock, maturing on May 26, 2026.

The Notes pay a fixed coupon of $34.375 per $5,000 each month, equal to 8.25% per annum, regardless of underlier performance. At maturity, if the worst-performing stock is at or above 70% of its initial value, investors receive full principal in cash plus the final coupon. If it is below that barrier, investors receive shares of the worst-performing stock instead of cash, based on a fixed share ratio, and can lose a substantial portion or all of their principal.

The price to the public is 100% of principal, with underwriting discounts of 0.75% and proceeds to RBC of 99.25%. The initial estimated value is $4,904.78 per $5,000, reflecting internal funding and hedging costs. The U.S. tax treatment is uncertain and relies on a “put option and deposit” characterization, with part of the coupon treated as interest and part as option premium.

Royal Bank of Canada is offering Auto-Callable Contingent Coupon Barrier Notes linked to the common stock of NVIDIA Corporation (NVDA). The Notes have a minimum investment of $1,000, a Trade Date of December 3, 2025 and a scheduled Maturity Date of January 7, 2027. The price to the public is 100% of principal, with underwriting discounts of 1.875% and proceeds to Royal Bank of Canada of 98.125% per $1,000.

The Notes pay a contingent coupon of $10.208 per $1,000 (1.0208% per month, 12.25% per annum) only if NVDA’s closing value on each observation date is at or above a Coupon Threshold set at 60% of the Initial Underlier Value. The Notes are auto-callable monthly starting June 3, 2026 if NVDA is at or above its Initial Underlier Value, in which case investors receive $1,000 plus the due coupon and no further payments.

If not called, at maturity investors receive $1,000 per Note if NVDA’s final value is at or above the Barrier Value (also 60% of the Initial Underlier Value). If NVDA finishes below the barrier, repayment is in NVDA shares equal to the Physical Delivery Amount, which can result in a substantial or total loss of principal. The initial estimated value is expected to be between $915 and $965 per $1,000, reflecting fees and hedging costs, and all payments are subject to Royal Bank of Canada’s credit risk.

Royal Bank of Canada is offering Airbag Autocallable Yield Notes linked to the common stock of UnitedHealth Group Incorporated (UNH), maturing on or about November 27, 2026. Each Note has a $1,000 principal amount and pays a fixed monthly coupon based on an 11.25% per annum rate, regardless of how the UNH share price performs. The Notes may be automatically called quarterly if UNH’s closing value is at least the Initial Underlying Value of $311.54, in which case holders receive $1,000 plus the applicable coupon and the Notes terminate early.

If the Notes are not called and the Final Underlying Value on the valuation date is at or above the Conversion Price of $264.81 (85% of the initial value), holders receive $1,000 in cash per Note plus the final coupon at maturity. If the Final Underlying Value is below the Conversion Price, holders receive the last coupon and 3.7763 UNH shares per Note, which may be worth substantially less than $1,000 and could be worth $0. The price to the public is $1,000 per Note, including a $15 selling commission, with proceeds to the bank of $985 per Note. The initial estimated value is expected between $927.00 and $977.00 per Note, and all payments are subject to Royal Bank of Canada’s credit risk. The Notes will not be listed on any securities exchange.

Royal Bank of Canada is offering market-linked, auto-callable notes tied to the lowest performing of the Russell 2000, S&P 500 and EURO STOXX 50 indices, maturing on November 30, 2028. Each security has a $1,000 face amount and pays a contingent quarterly coupon at a rate of at least 9.80% per annum, but only if the lowest performing index on the relevant calculation day is at or above 75% of its starting value.

From May 2026 to August 2028, if on any quarterly calculation day the lowest performing index is at or above its starting value, the notes are automatically called for $1,000 plus a final coupon. If the notes are not called and, on the final calculation day, the lowest performing index is below 75% of its starting value, investors are fully exposed to that decline and can lose more than 25%, up to all principal.

The initial estimated value is expected to be between $894.50 and $944.50 per $1,000, below the original offering price, reflecting fees, hedging costs and RBC’s internal funding rate. The notes are unsecured obligations of Royal Bank of Canada, subject to its credit risk, and will not be listed on an exchange, so liquidity may be limited.

Royal Bank of Canada is offering auto-callable contingent coupon barrier notes linked to the common stock of Ford Motor Company, maturing on January 7, 2027. The notes pay a contingent coupon of $7.50 per $1,000 in any month the Ford share price is at or above a coupon threshold set at 64% of the initial share value. If, on any monthly call observation date starting June 3, 2026, Ford’s share price is at or above its initial value, the notes are automatically called at $1,000 plus that month’s coupon.

If the notes are not called and Ford’s final share value is at or above the 64% barrier, investors receive their $1,000 principal plus any due coupon. If it is below the barrier, investors receive Ford shares worth less than principal, with the loss matching the stock decline, up to a total loss. The public price is 100% of principal, while RBC’s initial estimated value is expected between $916 and $966 per $1,000. RBC’s counsel expects to treat the notes as prepaid financial contracts with associated coupons for U.S. tax purposes, though this treatment is not certain.

Royal Bank of Canada is offering auto-callable barrier notes linked to the least performing of the Russell 2000 Index and the EURO STOXX 50 Index. The notes pay no coupons but can be automatically called each year if both indices are at or above 90% of their initial values, providing fixed call payments that correspond to a call return rate of 8.05% per annum, up to 140.25% of principal at the final observation.

If the notes are not called and the worst index finishes at or above 60% of its initial level, investors receive full principal at maturity. If the worst index finishes below 60%, repayment is reduced one-for-one with the index loss, and investors can lose most or all of their principal. The price to the public is 100% of principal, while the initial estimated value is expected to be $889–$939 per $1,000, reflecting underwriting discounts, referral fees and hedging costs. U.S. tax treatment is expected to follow prepaid financial contract rules, but this treatment is not certain.

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. stock: Intel, CarMax, Texas Instruments, Valero Energy, and Vertiv Holdings. The notes pay quarterly contingent coupons only if the relevant stock stays at or above a preset threshold, with indicative annual coupon ranges from about 10% to 16.25% per $1,000 principal amount.

The notes can be automatically called on quarterly observation dates if the stock closes at or above its initial value, in which case investors receive principal plus any due and unpaid coupons and no further payments. If the notes are not called and, at maturity in November 2028, the stock has fallen below a barrier level (generally 50% or 70% of its initial value), repayment of principal is reduced one-for-one with the stock loss, and investors could lose most or all of their investment. The initial estimated values per $1,000 are lower than the public offering price, reflecting fees, hedging costs and the bank’s funding rate, and the issuer highlights complex U.S. tax and withholding considerations.

Royal Bank of Canada is offering Capped Enhanced Return Buffer Notes linked to the worst performer of Freeport-McMoRan and The Home Depot stocks. The Notes are unsecured debt of Royal Bank of Canada, sold at 100% of principal with proceeds to the bank of 99% after underwriting discounts.

For each $1,000 Note, investors earn 250% of the positive return of the least performing stock, capped at a Maximum Return of 78%, for a maximum payment of $1,780 at maturity. A 20% downside buffer applies: if the least performing stock finishes down 20% or less, principal is returned; if it falls more than 20%, repayment is reduced on a leveraged basis and investors can lose a substantial portion of principal.

The initial estimated value is expected to be $920–$970 per $1,000, below the public offering price, and secondary market values may be lower. The Notes are not insured, all payments depend on Royal Bank of Canada’s credit, and the U.S. tax discussion describes treatment as prepaid financial contracts with potential future tax law changes.

Royal Bank of Canada is offering Dual Directional Buffer Digital Notes linked to the S&P 500® Index. The Notes are senior unsecured debt, not insured by Canadian or U.S. deposit insurers and not bail-inable. The price to the public is 100% of principal, with underwriting discounts and commissions of 1.00% and proceeds to the bank of 99.00% of principal.

The Notes offer a fixed Digital Return of 7.40% per $1,000 at maturity if the S&P 500 final value is at or above a Digital Barrier equal to 92.60% of its initial level. If the index ends below the Digital Barrier but at or above a Buffer Value equal to 86% of the initial level, investors receive a positive return equal to the absolute value of the index loss, capped at 14%. Below the Buffer Value, principal is reduced based on index losses in excess of the 14% buffer, so investors can lose a substantial portion of principal.

The initial estimated value is expected to be between $939.00 and $989.00 per $1,000, less than the public offering price, reflecting internal funding rates, underwriting discounts, referral fees and hedging costs. The Notes depend on RBC’s credit, may trade at values below the initial estimated value, and involve complex tax and market risks described in the accompanying documents.

Royal Bank of Canada is offering auto-callable contingent coupon barrier notes linked to the least performing of the Russell 2000, S&P 500 and EURO STOXX 50 indices, maturing in November 2029. The notes are issued at 100% of principal, with proceeds to the bank of 97.50% after underwriting discounts. They pay a quarterly contingent coupon of at least $21.875 per $1,000 (at least 8.75% per year) only if on each observation date all three indices are at or above 70% of their initial values.

Beginning about one year after issuance, the notes will be automatically called if on a quarterly call observation date all indices are at or above their initial levels, returning principal plus the applicable coupon. If the notes are not called and, at maturity, the worst-performing index is at or above its 70% barrier, investors receive full principal back plus any coupon. If the worst index finishes below the barrier, repayment of principal is reduced one-for-one with the index loss, and investors can lose a substantial portion or all of their investment.

The initial estimated value is expected to be $893.50–$943.50 per $1,000, below the public offering price, reflecting hedging costs, underwriting discounts and Royal Bank of Canada’s internal funding rate. U.S. federal income tax treatment is uncertain; the notes are expected to be treated as prepaid financial contracts with associated coupons, and investors are urged to consult tax advisers.

Royal Bank of Canada is offering auto-callable contingent coupon buffer notes linked to UnitedHealth Group common stock, maturing on January 22, 2027. The notes pay a contingent coupon of $5.833 per $1,000 (0.5833% per month, 7.00% per year) only when the underlier closes at or above 75% of its initial value on the relevant observation date. Starting about six months after issuance, the notes are automatically called if the underlier is at or above its initial value, returning $1,000 plus the coupon, with no further payments. At maturity, if not called and the final value is at or above the 75% buffer, investors receive full principal; below the buffer, they receive UnitedHealth shares or cash worth less than principal, with losses increasing as the stock falls. The initial estimated value is expected between $918 and $968 per $1,000, reflecting fees, hedging costs and RBC’s funding rate.

Royal Bank of Canada is offering Stepdown Auto-Callable Barrier Notes linked to the SPDR EURO STOXX 50 ETF, iShares Russell 2000 ETF and Invesco QQQ Trust. The notes are sold at 100.00% of principal with a 1.00% underwriting discount, so proceeds to the issuer are 99.00% per note.

The notes can be automatically called quarterly starting in late 2026 if each ETF is at or above its Call Value, paying a step-up call amount based on a 10.25% per annum return rate, up to $1,512.50 (151.25% of principal) if called on the final observation date in 2030.

If the notes are not called and the least performing ETF finishes below 70% of its initial value, repayment at maturity is reduced one-for-one with that decline, potentially down to zero, so investors can lose all principal. The initial estimated value is expected to be between $932.50 and $982.50 per $1,000, reflecting fees, hedging costs and a lower internal funding rate. The notes involve complex tax treatment and carry issuer credit 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 Energy Select Sector SPDR Fund. The notes pay a contingent coupon of $8.333 per $1,000 (0.8333% per month, 10.00% per year) only when each underlier is at or above 75% of its initial value on the relevant observation date.

The notes can be automatically called beginning about six months after issuance if all underliers are at or above their initial values, returning $1,000 plus any due coupon. If not called, principal is protected at maturity only if the least performing underlier stays at or above 60% of its initial value; if it falls below this barrier, repayment is reduced one-for-one with that underlier’s loss, and investors could lose all principal. The initial estimated value is expected to be between $912.00 and $962.00 per $1,000, reflecting fees and hedging costs. Tax treatment is uncertain and described as prepaid financial contracts with ordinary income coupons.

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 Utilities Select Sector SPDR Fund. The notes pay a contingent coupon of $8.333 per $1,000 (0.8333% per month, 10.00% per year) on monthly dates only if each underlier is at or above 80% of its initial value on the related observation date.

Starting about six months after issuance, the notes are automatically called on quarterly call observation dates if each underlier is at or above its initial value, returning $1,000 plus any due coupon, with no further payments. If the notes are not called and at maturity the least performing underlier is at or above 70% of its initial value, investors receive full principal back (plus any coupon). If it is below 70%, repayment is reduced one-for-one with the underlier loss, up to total loss of principal. The initial estimated value is expected between $885 and $935 per $1,000, and all payments are subject to RBC’s credit risk.

Royal Bank of Canada is offering auto-callable, dual directional geared buffer notes linked to the worst performer of the Russell 2000 and S&P 500 indices. The notes are priced at 100% of principal, with underwriting discounts of 0.15%, and an initial estimated value expected between $937 and $987 per $1,000 note, reflecting fees and hedging costs.

The notes can be automatically called on semiannual observation dates if each index is at or above its initial level, paying fixed call amounts up to $1,163.50 (116.35% of principal) at the final call date. If not called and the worst index finishes between 80% and 100% of its initial value, holders gain the absolute value of that negative return, capped at 20%. Below the 80% buffer, losses are magnified by a 1.25 downside multiplier, so investors can lose some or all of principal. 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 least performing of the Russell 2000® Index and the EURO STOXX 50® Index. The Notes pay a contingent coupon of $20.625 per $1,000 (2.0625% quarterly, 8.25% per annum) only if on each observation date both indices are at or above 70% of their initial values.

The Notes can be automatically called quarterly beginning in May 2026 if each index is at or above its initial level, in which case investors receive $1,000 plus the applicable coupon and no further payments. If the Notes are not called and the worst-performing index finishes at or above 70% of its initial value, investors receive full principal back plus any final coupon; if it finishes below 70%, repayment is reduced one-for-one with the index loss, up to a complete loss of principal.

The price to the public is 100% of principal, with underwriting discounts of 2.35%, and the initial estimated value is expected to be $902–$952 per $1,000, reflecting dealer compensation, funding and hedging costs. All payments depend on RBC’s credit and the product entails complex market, structure, tax and liquidity risks.

Royal Bank of Canada is offering Redeemable Fixed Rate Notes totaling $6,155,000 at 100% of principal. The Notes pay a fixed 4.00% per annum, with semiannual interest on May 14 and November 14, beginning May 14, 2026.

The Notes are callable at the Bank’s option, in whole, on the November 14, 2026 interest date and on each interest date thereafter upon 10 business days’ notice. If not redeemed, principal is due at maturity on November 14, 2028, together with the applicable interest payment. The minimum investment is $1,000, in $1,000 increments.

Underwriting discounts and commissions are 0.37% ($22,773.50 total), yielding proceeds to Royal Bank of Canada of $6,132,226.50. The Notes are issued under the Bank’s Senior Global Medium‑Term Notes, Series J program, use a 30/360 day count, and are subject to Canadian bail‑in powers. The Notes are unsecured obligations of the Bank and are not insured by the CDIC or FDIC.

Royal Bank of Canada priced a registered offering of $4,728,000 Redeemable Fixed Rate Notes due November 14, 2030 under its Series J medium-term note program.

The Notes pay a fixed 4.25% annual interest rate with semiannual payments on May 14 and November 14, starting May 14, 2026. They are redeemable at the issuer’s option, in whole, on the Interest Payment Date scheduled for November 14, 2027 and on each Interest Payment Date thereafter, with 10 business days’ notice. The offering priced at 100.00%, with underwriting discounts and commissions of 0.50% ($23,640), resulting in proceeds to Royal Bank of Canada of $4,704,360. Minimum investment is $1,000, in $1,000 increments.

The Notes are subject to RBC’s credit risk and are designated as bail-inable notes under Canadian law. Day count convention is 30/360, and RBCCM is the calculation agent and underwriter.

Royal Bank of Canada is offering redeemable fixed rate notes under its global medium‑term note program. The Notes pay 4.30% per annum, with semiannual interest on May 26 and November 26, beginning May 26, 2026. If not redeemed, principal plus the final interest payment is due on November 26, 2030. All payments are subject to the Bank’s credit risk and the Notes are not insured by Canadian or U.S. deposit insurers.

The Notes are callable at the issuer’s option, in whole but not in part, on the Interest Payment Date scheduled for May 26, 2027 and on each Interest Payment Date thereafter, with 10 business days’ prior notice. Minimum investment is $1,000 (and integral multiples of $1,000). RBC Capital Markets, LLC will purchase the Notes at $985 to $1,000 per $1,000 principal amount and may pay up to $15 per $1,000 as selling concession. These are bail‑inable notes under Canadian law, which may be converted into Bank common shares under the CDIC regime.

Royal Bank of Canada is offering Redeemable Fixed Rate Notes under a 424(b)(2) pricing supplement. The Notes pay a 5.00% fixed annual coupon and mature on November 25, 2037, subject to our credit risk and Canadian bail-in powers.

The Notes are callable at our option, in whole, on the interest payment date scheduled for November 25, 2027 and on each annual interest date thereafter, with 10 business days’ notice. Interest is paid annually on November 25, beginning November 25, 2026. Minimum investment is $1,000 and integral multiples of $1,000.

RBC Capital Markets, LLC will purchase the Notes at between $977.50 and $1,000 per $1,000 principal amount and may pay up to $22.50 per $1,000 to selected dealers as selling concessions. For certain fee-based accounts and eligible institutional investors, the public offering price may be as low as $977.50 per $1,000. The Notes are bail-inable under the CDIC Act, which may result in conversion into equity in a resolution scenario.

Royal Bank of Canada launched a primary offering of Redeemable Fixed Rate Notes. The offering size is $2,300,000 at 100.00% of principal, with underwriting discounts of 1.04% ($23,920) and proceeds to the issuer of 98.96% ($2,276,080).

The Notes pay a fixed 4.75% annual interest rate, with semiannual payments on May 14 and November 14, beginning May 14, 2026, and mature on November 14, 2035. The Notes are callable at the issuer’s option, in whole but not in part, on November 14, 2027 and on each interest payment date thereafter, with 10 business days’ prior notice. Minimum investment is $1,000 and increments of $1,000.

The Notes are senior bail-inable obligations, meaning they may be converted into equity or otherwise varied under Canadian bail-in powers. Counsel opinions state the Notes will constitute valid and binding obligations, subject to customary insolvency and equitable principles. U.S. tax counsel views the Notes as debt issued without original issue discount.

Royal Bank of Canada is issuing Redeemable Fixed Rate Notes, a primary offering totaling $4,479,000 at 100% of face value. The Notes pay a fixed 5.05% annual coupon with semiannual payments and are callable at the issuer’s option in whole on the Interest Payment Date scheduled for November 14, 2029 and on each Interest Payment Date thereafter. If not redeemed, the Notes mature on November 14, 2045.

Underwriting discounts are 2.18% ($97,642.20), for issuer proceeds of $4,381,357.80. Minimum denomination is $1,000. Pricing for certain accounts may be as low as $977.50 per $1,000 principal. The Notes are bail-inable under Canadian law, and all payments are subject to the issuer’s credit risk. RBCCM is underwriter and calculation agent, and may make markets after the initial sale.

Royal Bank of Canada is offering Redeemable Fixed Rate Notes under a 424(b)(2) preliminary pricing supplement. The Notes pay a 4.00% per annum fixed rate with semiannual interest on May 28 and November 28, beginning May 28, 2026, and mature on November 28, 2028. The Notes are callable at the issuer’s option, in whole but not in part, on the Interest Payment Date scheduled for November 28, 2026 and on each Interest Payment Date thereafter, with 10 business days’ prior notice.

The minimum investment is $1,000 (and integral multiples of $1,000). RBC Capital Markets, LLC will purchase the Notes at $990.00 to $1,000.00 per $1,000 principal amount and may pay up to $10.00 per $1,000 as selling concessions; certain fee-based or institutional accounts may pay as low as $990.00 per $1,000. Payments are subject to RBC’s credit risk. The Notes are bail-inable under Canadian law, meaning they may be converted into common shares in a resolution scenario.

Royal Bank of Canada is offering $3,000,000 of Trigger Autocallable Contingent Yield Notes linked to the least performing of Amazon.com, Inc. (AMZN) and Target Corporation (TGT), maturing on December 16, 2026. The Notes pay a monthly contingent coupon at 21.30% per annum with a memory feature if each underlying closes at or above its Coupon Barrier.

The Notes are automatically called if, on any monthly Call Observation Date, each underlying is at or above its Initial Underlying Value. If not called, and at maturity each is at or above its Downside Threshold (equal to the Coupon Barrier), investors receive $1,000 per Note plus any due coupons; otherwise, investors receive shares of the least performing underlying equal to the Share Delivery Amount.

Key terms: AMZN Initial Value $248.40; TGT Initial Value $90.73. Barriers/Downside Thresholds are 68% of initial: AMZN $168.91; TGT $61.70. Share Delivery Amounts: AMZN 4.0258 shares per Note; TGT 11.0217 shares per Note. Denomination $1,000. Price to public $1,000; selling concession $12.50; proceeds to issuer $987.50 per Note. Initial estimated value is $983.89 per Note. The Notes are unsecured RBC obligations, not exchange-listed, and all payments depend on RBC’s credit.

Royal Bank of Canada is offering Capped Enhanced Return Buffer Notes linked to the Russell 2000 Index. The Notes offer a 200% participation rate in index gains, subject to a Maximum Return of at least 16.75% (set on the Trade Date), and a 10% downside buffer at maturity. If the index falls more than the buffer, principal is reduced by losses beyond 10%.

The price to public is 100% of principal; underwriting discounts are 2.25%; proceeds to RBC are 97.75%. The initial estimated value is expected between $919 and $969 per $1,000. Minimum investment is $1,000. Key dates: Trade Date November 14, 2025, Issue Date November 19, 2025, Valuation Date May 14, 2027, Maturity Date May 19, 2027.

Payments depend on index performance at maturity and are subject to RBC’s credit risk. The Notes are not insured or bail‑inable. U.S. tax treatment is expected to follow prepaid financial contract guidance; Section 871(m) is not expected to apply to Non‑U.S. Holders based on current determinations.

Royal Bank of Canada plans to issue Auto-Callable Contingent Coupon Barrier Notes linked to Alphabet Inc. Class C stock. The notes pay a $9.583 contingent coupon per $1,000 each month (0.9583% per month, 11.50% per annum) if the Underlier closes at or above the Coupon Threshold, set at 69% of the Initial Underlier Value.

The notes auto-call if, on any monthly Call Observation Date starting May 26, 2026, the Underlier is at or above its Initial Underlier Value, returning $1,000 plus any due coupon. If not called, at maturity on December 31, 2026 investors receive $1,000 if the Final Underlier Value is at or above the Barrier Value (69% of initial). Otherwise, they receive Alphabet shares equal to the Physical Delivery Amount ($1,000 divided by the Initial Underlier Value), which could be worth significantly less than principal.

Pricing terms include a price to public of 100.00%, underwriting discounts of 1.50%, and proceeds to RBC of 98.50% per note. The initial estimated value is expected between $923.37 and $973.37 per $1,000. Key dates: Trade Date November 25, 2025, Issue December 1, 2025, Valuation December 28, 2026.

Royal Bank of Canada is offering $1,300,000 of Auto-Callable Contingent Coupon Barrier Notes linked to the common stock of NVIDIA Corporation. These Notes pay a contingent coupon of $42.90 per $1,000 of principal if, on each observation date, NVIDIA’s share price is at or above a coupon threshold set at 60% of the initial level, which is also the barrier for principal protection.

The Notes can be automatically called quarterly if NVIDIA’s share price is at least equal to the initial value of $188.15, in which case holders receive $1,000 plus the applicable coupon and the Notes terminate early. If the Notes are not called and, at maturity, NVIDIA’s final price is below the barrier value of $112.89, 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. Royal Bank of Canada receives 99% of the proceeds, or $1,287,000, after a 1% underwriting discount.

Royal Bank of Canada is offering $750,000 of Auto-Callable Contingent Coupon Barrier Notes linked to the Solactive Equal Weight U.S. Semi Conductor Select AR Index. Investors pay 100% of principal, while the bank expects net proceeds of 96.375% after underwriting costs.

The Notes can pay a quarterly contingent coupon of 2.375% (9.50% per year) per $1,000, but only if the index closes at or above 75% of its initial value on each observation date. The Notes are automatically called, returning $1,000 plus the coupon, if on a call observation date the index is at or above its initial level.

If the Notes are not called, investors receive $1,000 at maturity only if the final index value is at least 50% of the initial value. If it falls below that 50% barrier, repayment is reduced one-for-one with the index loss, and investors could lose all principal. The initial estimated value is $949.89 per $1,000, reflecting fees, funding and hedging costs, and all payments depend on RBC’s creditworthiness.

Royal Bank of Canada filed a 424B2 pricing supplement for Auto-Callable Contingent Coupon Barrier Notes linked to the least-performing of JNJ, Lowe’s, and TSMC ADS, with a total offering of $564,000. The Notes pay a contingent coupon of $10.625 per $1,000 (1.0625% monthly; 12.75% per annum) when each underlier is at or above its coupon threshold.

The Notes may be automatically called if, on any call observation date, each underlier is at or above its initial value; if called, holders receive $1,000 plus any due coupons. If held to maturity and the least-performing underlier is at or above its 60% barrier, principal is returned; if it is below the barrier, repayment is reduced one-for-one with the underlier’s decline, up to total loss. Initial values and 60% barriers: JNJ $186.57/$111.94; LOW $233.16/$139.90; TSM $286.50/$171.90.

Price to public is 100%; underwriting discounts 2.883% ($16,260); proceeds to RBC $547,740. The initial estimated value is $970.05 per $1,000. Minimum investment is $1,000. All payments are subject to RBC’s credit risk.

Royal Bank of Canada is offering Trigger Autocallable Contingent Yield Notes linked to the least performing of Amazon.com, Inc. common stock and Target Corporation common stock, maturing on or about December 16, 2026. The Notes pay a monthly contingent coupon only if each underlying closes at or above its Coupon Barrier; missed coupons may be later paid under the memory feature.

The Contingent Coupon Rate is 21.30% per annum. The Notes may be called monthly if each underlying is at or above its Initial Underlying Value, returning principal plus the due coupon and any unpaid coupons. If not called, principal is repaid at maturity only if the Least Performing Underlying is at or above its Downside Threshold.

Initial values set on the Strike Date were AMZN $248.40 and TGT $90.73. The Coupon Barrier and Downside Threshold are each 68% of those values (AMZN $168.91; TGT $61.70). If the Least Performing is below its threshold at maturity, investors receive shares: AMZN 4.0258 or TGT 11.0217 per Note, likely worth less than principal. Price to public is $1,000 per Note; selling commission is $12.50 per Note; initial estimated value is $928.00–$978.00. The Notes are senior unsecured obligations, unlisted, and subject to RBC credit risk.

Royal Bank of Canada priced a registered offering of $2,659,000 Redeemable Fixed Rate Notes due November 12, 2032. The notes pay a fixed 4.50% annual coupon and are issued at 100% of principal. Underwriting discounts and commissions are 0.61% ($16,219.90), resulting in $2,642,780.10 in proceeds to Royal Bank of Canada.

Interest is paid annually on November 12, beginning November 12, 2026, using a 30/360 day count. The notes are callable at the issuer’s option, in whole but not in part, on November 12, 2027 and on each annual interest payment date thereafter with 10 business days’ notice. If not redeemed, principal plus the final interest payment is due at maturity. The notes are subject to the issuer’s credit risk and are designated as bail-inable notes under Canadian bail-in powers. Minimum investment is $1,000 in $1,000 increments; RBC Capital Markets, LLC acts as underwriter and calculation agent.

Royal Bank of Canada filed a preliminary 424B2 pricing supplement for Auto-Callable Contingent Coupon Barrier Notes linked to the least performing of the Nasdaq-100, Russell 2000, and S&P 500, maturing on August 19, 2030.

The Notes pay a contingent coupon of $23.875 per $1,000 (9.55% per annum) on quarterly dates only if each index is at or above its Coupon Threshold of 75% of its initial value. The Notes are automatically called if, on any call observation date beginning November 16, 2026, each index is at or above its initial value; upon call, holders receive $1,000 plus the coupon due and no further payments.

At maturity, if not called, investors receive $1,000 per note if the least performing index is at or above its 60% barrier; otherwise, repayment is reduced by the index decline, which can result in substantial loss of principal. Price to public is 100.00%, underwriting discount 1.00%, and proceeds to RBC 99.00% per note. The initial estimated value is expected to be between $920.00 and $970.00 per $1,000, below the public offering price. All payments are subject to RBC’s credit risk.

Royal Bank of Canada is offering Auto-Callable Contingent Coupon Barrier Notes linked to the least performing of the EURO STOXX Banks Index (SX7E) and the SPDR S&P Oil & Gas Exploration & Production ETF (XOP). The offering totals $750,000 at 100% of par, with $7,500 in underwriting discounts and $742,500 in proceeds to RBC.

The Notes pay a contingent coupon of $42.125 per $1,000 (4.2125% quarterly; 16.85% per annum) on observation dates only if each underlier is at or above its 70% coupon threshold/barrier. Initial values: SX7E 234.42 (threshold/barrier 164.09); XOP $125.93 (threshold/barrier $88.15). The Notes auto-call if, on any call observation date, both underliers are at or above their initial values, paying par plus the coupon.

If not called, at maturity on November 9, 2028, investors receive par if the least performer is at or above its barrier; otherwise, repayment is reduced one-for-one with the least performer’s decline, which can result in substantial principal loss. The initial estimated value is $968.74 per $1,000. Key dates: Strike Nov 4, 2025, Trade Nov 5, 2025, Issue Nov 10, 2025, Valuation Nov 6, 2028.

Royal Bank of Canada plans to issue Capped Enhanced Return Buffer Notes linked to the S&P 500 Index, maturing on November 30, 2028 (Trade Date November 25, 2025; Issue Date December 1, 2025). The notes provide 150% upside participation in the index, subject to a Maximum Return of 27.75% (maximum payment $1,277.50 per $1,000 note). A 15% downside buffer applies; below that level, principal is reduced proportionally.

The price to the public is 100% of principal, with 1.00% underwriting discounts and commissions, resulting in 99% proceeds to Royal Bank of Canada. The initial estimated value is expected between $927 and $977 per $1,000, reflecting structuring and hedging costs. Minimum investment is $1,000. Payments at maturity depend on S&P 500 performance and are subject to RBC’s credit risk. Tax counsel expects treatment as prepaid financial contracts (open transactions), and the issuer expects Section 871(m) not to apply to Non‑U.S. holders based on current rules.

Royal Bank of Canada filed a preliminary pricing supplement for a primary offering of Auto‑Callable Contingent Coupon Barrier Notes linked to the S&P 500 Index, due November 30, 2028. The notes pay a contingent coupon of $19.375 per $1,000 each quarter (1.9375% quarterly, 7.75% per annum) if the index closes at or above an 80% Coupon Threshold on the observation date.

The notes are auto‑callable: if on any call observation date the index is at or above its initial level, investors receive $1,000 plus the coupon and the notes terminate. If held to maturity and the final index value is at or above the 80% Barrier, repayment is $1,000; otherwise repayment equals $1,000 plus $1,000 × Underlier Return, which can result in a substantial loss of principal.

Pricing terms include a price to public of 100%, underwriting discount of 1.00%, and proceeds to the issuer of 99.00% per note. The initial estimated value is expected between $926 and $976 per $1,000. Minimum investment is $1,000. Key dates: Trade Date November 25, 2025; Issue Date December 1, 2025; Valuation Date November 27, 2028.

Royal Bank of Canada (RBMCF) plans a primary offering of Capped Return Notes linked to the S&P 500 Index. The notes offer a 100% participation rate, subject to a Maximum Return of 35%, capping the payment at $1,350 per $1,000 at maturity. Pricing is at 100% of principal, with a 1.00% underwriting discount and 99.00% proceeds to RBC. The initial estimated value is expected between $918 and $968 per $1,000, below the public offering price.

Key dates are Trade Date November 25, 2030, Issue Date December 1, 2025, Valuation Date November 25, 2030, and Maturity Date November 29, 2030. At maturity, if the S&P 500 is above its initial level, holders receive principal plus the lesser of the index return or 35%; if at or below, holders receive principal only. Minimum investment is $1,000. The notes are unsecured debt of RBC, are not deposit-insured, and are not bail‑inable. For U.S. tax, RBC intends CPDI treatment; RBC expects Section 871(m) will not apply.

Royal Bank of Canada is offering Buffer Digital Notes linked to the Nasdaq-100 Index, maturing on December 31, 2026. The notes pay a fixed 9.50% “Digital Return” per $1,000 at maturity if the Final Index Value is at or above the Buffer Value, which is 90% of the Initial Value. A 10% downside buffer applies; below the buffer, repayment is reduced by losses beyond the buffer.

Key terms include: minimum investment of $1,000; Trade Date November 25, 2025; Issue Date December 1, 2025; Valuation Date December 28, 2026. Price to public is 100%, with 1.00% underwriting discounts and commissions; proceeds to Royal Bank of Canada are 99.00% of the principal amount. The initial estimated value is expected between $931 and $981 per $1,000.

The notes are unsecured obligations of RBC and subject to RBC’s credit risk. Investors may lose some or a substantial portion of principal if the index ends below the buffer.

Royal Bank of Canada plans to offer Auto-Callable Enhanced Return Barrier Notes linked to the Solactive Equal Weight U.S. Blue Chip Select AR Index (SOLUSBCA). The notes are priced at 100% of face value, with underwriting discounts of 3.625% and proceeds to the issuer of 96.375% per $1,000. The initial estimated value is expected to be $880–$930 per $1,000, below the public price.

The notes may be automatically called on November 30, 2026 if the index is at or above its initial level, paying at least $1,200 per $1,000 on December 3, 2026. If not called, at maturity on November 29, 2030: investors receive 150% of any positive index return; return of principal if the final value is between the initial level and the barrier; and one-for-one downside if below the 70% barrier. Minimum investment is $1,000. All payments are subject to RBC’s credit risk.

The Underlier deducts a 5.5% per annum adjustment factor. The notes are not insured by CDIC/FDIC and are not bail-inable.

Royal Bank of Canada filed a preliminary 424(b)(2) pricing supplement for Auto-Callable Contingent Coupon Barrier Notes linked to Meta Platforms, Inc. Class A shares. The notes pay a quarterly contingent coupon of $23.25 per $1,000 (9.30% per annum) if the Underlier closes at or above the coupon threshold on the prior observation date. The coupon threshold and barrier are each 60% of the Initial Underlier Value.

The notes auto-call on quarterly observation dates, beginning May 18, 2026, if the Underlier is at or above the Initial Underlier Value, returning $1,000 plus any due coupon. If not called, maturity is May 21, 2027: investors receive $1,000 if the Final Underlier Value is at or above the barrier; otherwise principal is reduced one-for-one with the Underlier’s decline. All payments are subject to Royal Bank of Canada’s credit risk.

Price to public is 100.00% per note, underwriting discount 1.875%, and proceeds to RBC 98.125%. The initial estimated value is expected between $916 and $966 per $1,000.

Royal Bank of Canada is offering Auto-Callable Contingent Coupon Barrier Notes linked to the Solactive Equal Weight U.S. Semi Conductor Select AR Index. The Notes pay a contingent monthly coupon of at least $9.583 per $1,000 (at least 11.50% per annum) if on the relevant observation date the Underlier is at or above the Coupon Threshold set at 75% of the Initial Underlier Value.

The Notes may be automatically called on quarterly observation dates if the Underlier is at or above its initial value, returning $1,000 plus any due coupon. If not called, at maturity investors receive $1,000 if the Final Underlier Value is at or above the Barrier set at 70% of the Initial; otherwise, principal is reduced one-for-one with the Underlier’s decline, potentially to zero. All payments are subject to RBC’s credit risk.

Pricing: price to public 100.00%, underwriting discount 2.25%, proceeds to RBC 97.75%; minimum investment $1,000. The initial estimated value is expected between $900–$950 per $1,000. Key dates: Trade Nov 24, 2025, Issue Nov 28, 2025, Valuation May 24, 2028, Maturity May 30, 2028. The Underlier deducts a 2.0% p.a. adjustment factor and currently references nine semiconductor equities.

Royal Bank of Canada plans to offer auto-callable contingent coupon barrier notes linked to the Solactive Equal Weight U.S. Semi Conductor Select AR Index, maturing on November 29, 2030. The notes pay a monthly contingent coupon of at least $8.958 per $1,000 (at least 10.75% per annum) when the Underlier closes at or above 75% of its initial value on the observation date.

The notes may be automatically called quarterly, beginning about one year after issuance, if the Underlier is at or above its initial value; in that case holders receive $1,000 plus the applicable coupon, and the notes end. If not called, principal is protected only if the final Underlier value is at or above 70% of the initial value; below that, repayment is reduced one-for-one with the Underlier’s decline.

Price to public is 100.00%, underwriting discount 3.625%, and proceeds to the issuer 96.375%. The initial estimated value is expected between $876.50 and $926.50 per $1,000. The Underlier reflects a 2.0% per annum adjustment factor. All payments are subject to issuer credit risk, and tax treatment may vary as described by counsel.

Royal Bank of Canada filed a preliminary pricing supplement for Auto-Callable Contingent Coupon Barrier Notes linked to the Solactive Equal Weight U.S. Semi Conductor Select AR Index. The notes pay a contingent coupon of at least $11.667 per $1,000 (at least 14.00% per annum) for months when the Underlier closes at or above the coupon threshold.

The notes are auto-callable quarterly if the Underlier is at or above its initial value, returning $1,000 plus the due coupon. If not called, at maturity investors receive $1,000 if the Final Underlier Value is at or above the 70% barrier; otherwise, repayment is reduced by the Underlier’s decline, which can result in substantial loss of principal. The coupon threshold is 75% of the initial value. Key dates: Trade Nov 25, 2025, Issue Dec 1, 2025, Valuation May 25, 2028, Maturity May 31, 2028.

Pricing: price to public 100%, underwriting discount 1%, proceeds to issuer 99%. The initial estimated value is expected to be $919–$969 per $1,000, below the public price. All payments are subject to RBC’s credit risk. The Underlier reflects a 2.0% p.a. adjustment factor.

Royal Bank of Canada is offering Auto-Callable Enhanced Return Barrier Notes linked to the Solactive Equal Weight U.S. Blue Chip Select AR Index. The notes are issued at 100% of principal, with 1.00% underwriting discounts and commissions, resulting in 99.00% proceeds to RBC per $1,000. The initial estimated value is expected to be between $907.50 and $957.50 per $1,000.

The notes may be automatically called on December 1, 2026 if the Underlier is at or above its initial value, paying at least $1,250 (at least 125%) per $1,000 on the call settlement date. If not called, at maturity on November 29, 2030 investors receive: (i) $1,000 plus 150% of any positive Underlier return; (ii) $1,000 if the final value is ≤ initial but ≥ the 70% barrier; or (iii) $1,000 plus the Underlier return if the final value is below the barrier, which can result in substantial loss of principal. All payments are subject to RBC’s credit risk.

The Underlier reflects a 5.5% per annum adjustment factor deducted daily and currently references 10 equal‑weighted U.S. blue chip stocks. Minimum investment is $1,000; RBCCM is underwriter and calculation agent.

Royal Bank of Canada is offering Geared Buffer Digital Notes linked to the least performing of the iShares Russell 2000 Value ETF (IWN), the S&P 500 Index (SPX) and the Consumer Staples Select Sector SPDR Fund (XLP). The Notes pay a fixed Digital Return of 8.15% at maturity if the least performing underlier finishes at or above its 25% buffer level (75% of its initial value). If it finishes below the buffer, the loss to principal is amplified by the Downside Multiplier ~1.33333.

Key dates: Trade Date November 12, 2025, Issue Date November 17, 2025, Valuation Date November 18, 2026, and Maturity Date November 23, 2026. Minimum investment is $1,000. Price to public is 100.00%, underwriting discount 0.06%, and proceeds to RBC 99.94%. The initial estimated value is expected between $937.50 and $987.50 per $1,000. All payments are subject to RBC’s credit risk, and investors could lose some or all principal if the buffer is breached.

Royal Bank of Canada filed a 424B2 for Auto-Callable Enhanced Return Dual Directional Barrier Notes linked to the least performing of Generac (GNRC) and Vertiv (VRT). The notes are offered at 100% of principal, with underwriting discounts of 2.50% and proceeds to RBC of 97.50%. The initial estimated value is expected between $870 and $920 per $1,000.

The notes may auto-call on November 20, 2026 if each underlier is at or above its initial value, paying at least $1,350 per $1,000 and then terminating. If not called, at maturity on November 17, 2028 investors receive: upside at 200% participation if the least performer is above its initial value; a positive “dual directional” return equal to the absolute loss (capped at 50%) if the least performer finishes between its barrier (50% of initial) and initial value; or one-for-one downside if the least performer finishes below its barrier, risking substantial principal loss. All payments are subject to RBC’s credit risk. Tax treatment is expected to follow prepaid financial contracts, subject to confirmation on the trade date.

Royal Bank of Canada is offering Auto-Callable Contingent Coupon Barrier Notes linked to the Solactive Equal Weight U.S. Semi Conductor Select AR Index. The Notes pay a contingent coupon of $23.75 per $1,000 (2.375% quarterly; 9.50% per annum) if the Underlier closes at or above the Coupon Threshold (75% of the Initial Value) on the relevant observation date. The Notes may be automatically called on quarterly call dates (beginning November 9, 2026) if the Underlier is at or above its Initial Value, returning $1,000 plus any coupon due.

If not called, at maturity investors receive $1,000 if the Final Underlier Value ≥ Barrier (50%); otherwise, repayment is reduced by the Underlier Return, which can result in substantial principal loss. Price to public: 100%; underwriting discount: 3.625%; proceeds to issuer: 96.375%. The initial estimated value is expected to be $875–$925 per $1,000, below the public price. Trade Date: November 7, 2025; Issue Date: November 13, 2025; Valuation Date: November 7, 2030; Maturity Date: November 13, 2030. All payments are subject to RBC’s credit risk.