ROYAL BANK OF CANADA SEC Filings

Royal Bank of Canada is offering $526,000 of Contingent Coupon Barrier Notes linked to the least performing of the Dow Jones Industrial Average, Russell 2000 Index and S&P 500 Index. The Notes mature on January 3, 2031, with a minimum investment of $1,000.

The Notes pay a contingent coupon of $36.25 per $1,000 (3.625% semiannually, 7.25% per annum) on each semiannual payment date if, on the related observation date, the closing value of each index is at or above 70% of its initial value. If any index finishes below this level, no coupon is paid for that period.

At maturity, investors receive $1,000 per Note if the least performing index is at or above 70% of its initial value; otherwise, repayment is reduced in line with that index’s loss and can fall to zero. The initial estimated value is $967.56 per $1,000, below the public offering price, and all payments are subject to Royal Bank of Canada’s credit risk.

Royal Bank of Canada is offering three separate auto-callable contingent coupon barrier notes with a memory feature, each linked to the common stock of Royal Caribbean Cruises, Snowflake, or Target. The notes pay quarterly contingent coupons only if the underlier stays at or above a set threshold, with indicative annual rates of 10.25%–11.25% for RCL and 10.50%–11.50% for SNOW and TGT. Each note has a barrier level based on a percentage of the initial share price (60% for RCL, 55% for SNOW, 65% for TGT), below which principal is exposed one-for-one to equity losses at maturity.

The notes can be automatically called quarterly if the underlier is at or above its initial value, returning principal plus any due coupons. The initial estimated value per $1,000 note is expected to be $899–$949 for RCL and $900–$950 for SNOW and TGT, which is less than the public offering price, partly due to fees and hedging costs. The product carries issuer credit risk, is not insured by deposit insurance schemes, and has complex and uncertain U.S. tax treatment, including potential withholding for non-U.S. holders.

Royal Bank of Canada is issuing $575,000 of Capped Enhanced Return Barrier Notes linked to the S&P 500 Index, maturing on February 12, 2027. The notes are priced at 100% of principal, with underwriting discounts of 2.00%, providing proceeds to RBC of 98.00% of the offering amount.

Investors receive 200% of any positive S&P 500 return, capped at a Maximum Return of 10.50%, for a maximum payment of $1,105 per $1,000 note. Principal is fully protected at maturity only if the index finish level is at or above the Barrier Value of 85% of the initial level; below the barrier, losses match the index decline and investors could lose all principal. The initial estimated value is $975.90 per $1,000, below the public offering price, and all payments depend on RBC’s credit. The notes are treated for U.S. tax purposes as prepaid financial contracts, with specific U.S. holder and non-U.S. holder considerations.

Royal Bank of Canada is offering senior unsecured structured Notes linked to an equally weighted basket of ten large-company stocks, maturing on July 31, 2031. The basket includes shares of Cisco, Chevron, Duke Energy, Coca-Cola, Lockheed Martin, McDonald’s, Medtronic, PepsiCo, Southern Company and Verizon, each with a 1/10 weighting.

For each $1,000 Note, investors receive at maturity either $1,000 plus at least 100% of any positive basket return, or $1,000 if the basket is flat or down, so principal is repaid at maturity but upside is variable. The price to the public is 100% of principal, with a 4.00% underwriting discount and 96.00% of principal as proceeds to Royal Bank of Canada.

The initial estimated value is expected to range from $889.00 to $939.00 per $1,000 Note, reflecting internal funding rates, fees and hedging costs, and may be below secondary market values. The Notes are unsecured obligations subject to Royal Bank of Canada’s credit risk, are not insured or bail-inable, may have limited liquidity, and are expected to be treated as contingent payment debt instruments for U.S. federal income tax purposes.

Royal Bank of Canada is offering Auto-Callable Enhanced Return Barrier Notes linked to an equally weighted basket of Bank of America, Citigroup, Goldman Sachs, Morgan Stanley and Wells Fargo common stocks. The notes are issued in $1,000 minimums, with a price to the public of 100% of principal, underwriting discounts of 2.50% and proceeds to Royal Bank of Canada of 97.50% per note.

The notes may be automatically called in February 2027 if the basket is at or above its initial level, in which case investors would receive at least 111% of principal and no further payments. If not called, the notes mature in February 2029 with 150% participation in any basket gains, full principal return so long as the basket does not fall below a 70% barrier, and 1‑for‑1 loss of principal below that barrier. The initial estimated value, set on the trade date, is expected to be between $902 and $952 per $1,000, reflecting underwriting and hedging costs, and all payments are subject to Royal Bank of Canada’s credit risk.

Royal Bank of Canada is offering five separate auto-callable contingent coupon barrier notes with memory coupons, each linked to a single stock: NVIDIA, Novo Nordisk ADS, Tesla, United Airlines and Vistra. Investors can choose one or more offerings, each with its own terms. Indicative contingent coupon rates range from 10.00%–11.25% per year for most underliers and 13.50%–14.50% for Tesla, paid quarterly only if the stock stays at or above a set coupon threshold.

The notes can be automatically called quarterly, starting about six months after issuance, if the stock is at or above its initial level, returning principal plus due coupons. If not called and the final stock value is at or above a barrier level (typically 50%–60% of the initial value), principal is repaid; below the barrier, repayment is reduced one-for-one with the stock loss, up to total loss of principal. The notes are unsecured RBC obligations, not insured, have an initial estimated value of about $900–$955 per $1,000, and involve complex tax and market risks.

Royal Bank of Canada is offering Capped Enhanced Return Buffer Notes linked to the EURO STOXX 50® Index. These senior unsecured notes provide 300% participation in positive index performance, but gains are capped by a Maximum Return between 21% and 23%, so the most an investor can receive at maturity is $1,210 to $1,230 per $1,000 of principal. A 15% downside buffer protects principal only if the index decline stays within that range; if the EURO STOXX 50® falls more than 15% from its initial level, repayment is reduced and investors can lose a substantial portion of principal.

The notes are priced at 100% of principal, but the initial estimated value is expected to be between $926.54 and $976.54 per $1,000, reflecting underwriting discounts, referral fees, hedging costs and RBC’s internal funding rate. They are not insured by Canadian or U.S. deposit insurance schemes and all payments depend on RBC’s credit. RBC and its affiliates may make a secondary market but are not obligated to, and any resale before maturity could occur at a significant discount. For U.S. tax purposes, counsel views the notes as prepaid financial contracts treated as “open transactions,” but this approach is uncertain and future tax or regulatory changes could affect outcomes.

Royal Bank of Canada is offering two separate Auto-Callable Contingent Coupon Barrier Notes, each linked to a single stock: Class A common stock of Alphabet Inc. and capital stock of International Business Machines Corporation. The Notes pay a quarterly contingent coupon only if the relevant stock closes at or above a coupon threshold, currently shown as 70% of its initial value, and can be automatically called if the stock is at or above its initial value on specified quarterly call observation dates.

If the Notes are not called, investors receive their principal at maturity only if the final stock value is at or above the barrier; if it is below, repayment is reduced one-for-one with the stock decline, and investors can lose most or all of their principal. The public offering price is 100% of principal, with underwriting discounts of 2.50% and an initial estimated value between $905 and $955 per $1,000, reflecting dealer compensation, hedging costs and RBC’s lower internal funding rate. The Notes are unsecured RBC debt, are not insured by deposit insurers, and carry complex tax and structural risks, including potential U.S. withholding for some non-U.S. holders.

Royal Bank of Canada is offering Capped Return Dual Directional Buffer Notes linked to the S&P 500® Index, maturing on February 3, 2028. The notes let investors participate one-for-one in index gains up to an 18% maximum upside return, so the most an investor can receive at maturity in an up market is $1,180 per $1,000 principal.

If the index ends down but by no more than the 15% buffer, investors receive a positive return equal to the absolute value of the index move (capped at 15%). If the index falls by more than 15%, principal is reduced beyond the buffer and investors can lose a substantial portion of their investment. The minimum investment is $1,000. The initial estimated value is expected to be between $930.00 and $980.00 per $1,000, below the public offering price, reflecting dealer compensation and hedging costs. Payments depend on RBC’s credit, and the tax treatment is uncertain, with counsel currently viewing the notes as prepaid financial contracts.