Royal Bank of Canada SEC Filings

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.

Royal Bank of Canada is offering Auto‑Callable Contingent Coupon Buffer Notes linked to the least performing of the VanEck Gold Miners ETF (GDX), SPDR S&P Regional Banking ETF (KRE) and VanEck Semiconductor ETF (SMH).

The Notes pay a contingent coupon of $8.75 per $1,000 (0.875% monthly; 10.50% per annum) only if each Underlier closes at or above its Coupon Threshold of 65% of its Initial Underlier Value on the relevant observation date. They may be automatically called if, on a call observation date, each Underlier is at or above its Initial Underlier Value, returning $1,000 plus the applicable coupon.

The structure includes a 25% buffer (Buffer Value set at 75% of initial). If held to maturity and not called, repayment of principal depends on the Final Underlier Value of the least performing Underlier; amounts can be reduced below par if it finishes below its Buffer Value. Price to public is 100.00%, underwriting discounts 1.875%, and proceeds to RBC 98.125%. The initial estimated value is expected between $894 and $944 per $1,000. Minimum denomination is $1,000. Key dates: Trade Date November 6, 2025; Issue Date November 12, 2025; Valuation Date October 6, 2027; Maturity Date October 12, 2027.

Royal Bank of Canada filed a Form 6-K noting the issuance of Senior Global Medium-Term Notes, Series J, under its shelf registration on Form F-3. The filing primarily provides supporting legal and tax opinions: U.S. counsel Sullivan & Cromwell LLP opined on validity and U.S. federal income tax matters, while Norton Rose Fulbright Canada LLP addressed Canadian, Ontario and Québec law and Canadian federal income tax matters. Consents for these opinions are included. The report is signed by Executive Vice-President and Treasurer Jason Drysdale.

Royal Bank of Canada is issuing $11,078,800 of Capped Buffer GEARS linked to the S&P 500 Index, maturing on November 2, 2027.

At maturity, if the index return is positive, holders receive principal plus 2.0x the index return, up to a 22% Maximum Gain. If the return is zero or negative but the final level is at or above the Downside Threshold, principal is returned. If the final level is below the threshold, losses match the decline beyond a 10% Buffer, up to a 90% loss of principal.

The Securities pay no interest or dividends, are senior unsecured and not exchange‑listed; repayment is subject to RBC’s credit. Denominations are $10 (minimum investment $1,000). UBS acts as placement agent to fee‑based accounts with no commission. The initial estimated value is $9.97 per $10 Security.

Royal Bank of Canada plans to issue Redeemable Fixed Rate Notes due November 14, 2028 under a 424B2 pricing supplement. The Notes pay 4.00% per annum, with semiannual interest on May 14 and November 14, beginning May 14, 2026, calculated on a 30/360 basis. Minimum investment is $1,000 and in $1,000 increments. Pricing is expected on November 12, 2025, with issuance on November 14, 2025.

The Notes are callable at RBC’s option, in whole and not in part, on the interest date on November 14, 2026 and on each Interest Payment Date thereafter, with 10 business days’ notice. If not redeemed, investors receive principal at maturity plus the final interest payment, subject to RBC’s credit risk. The Notes are bail-inable under Canadian law, meaning they may be converted into RBC (or affiliate) common shares in a bail-in conversion. RBC Capital Markets, LLC will purchase the Notes at $990–$1,000 per $1,000 principal, with up to $10 per $1,000 in selling concessions; certain fee-based or eligible institutional accounts may pay as low as $990 per $1,000.

Royal Bank of Canada plans to offer Redeemable Fixed Rate Notes due November 14, 2030. The notes pay a fixed 4.25% per annum, with semiannual interest on May 14 and November 14, beginning May 14, 2026. Payments are subject to the issuer’s credit risk.

The notes are callable at the bank’s option, in whole but not in part, on November 14, 2027 and on each interest payment date thereafter, with 10 business days’ notice. Minimum investment is $1,000. RBC Capital Markets, LLC is the underwriter; certain accounts may purchase at prices as low as $985 per $1,000 principal, reflecting selling concessions of up to $15 per $1,000. These are Canadian bail-inable notes, meaning they may be converted into common shares under the CDIC bail-in regime.

Royal Bank of Canada filed a preliminary 424B2 for Auto-Callable Contingent Coupon Barrier Notes with Memory Coupon linked to the least performing of Johnson & Johnson, Lowe’s Companies, and Taiwan Semiconductor Manufacturing (ADS). The Notes are due November 10, 2028 and pay a contingent coupon of $10.625 per $1,000 if, on the relevant monthly observation date, each underlier is at or above its coupon threshold.

The contingent coupon rate is 12.75% per annum (1.0625% monthly). The coupon threshold and barrier for each underlier are set at 60% of its initial value. The Notes auto-call on monthly call observation dates (starting February 2026) if each underlier is at or above its initial value, returning $1,000 plus any due coupons. If not called, at maturity investors receive $1,000 if the least performing underlier is at or above its barrier; otherwise, repayment is $1,000 + ($1,000 × underlier return), risking substantial loss of principal if the least performer finishes below its barrier.

Price to public is 100%, underwriting discount 3%, and proceeds to RBC 97%. The initial estimated value is expected between $900 and $950 per $1,000, reflecting fees and hedging costs. All payments are subject to RBC’s credit risk.

Royal Bank of Canada filed a preliminary pricing supplement for Geared Buffer Digital Notes linked to Micron Technology (MU). These structured notes offer a fixed Digital Return of 20.65% if the final Micron stock value is at or above the Digital Barrier (80% of the initial value). Principal is fully returned if the final value is below the barrier but at or above the Buffer Value (60%). Below the buffer, losses accelerate using a Downside Multiplier of approximately 1.66667.

The notes are priced at 100% of principal, with a 1.00% underwriting discount and 99.00% proceeds to RBC per note. Minimum investment is $1,000. The initial estimated value is expected to be between $928 and $978 per $1,000, which is less than the public offering price. Key dates: Trade Date November 7, 2025, Valuation Date December 7, 2026, and Maturity Date December 10, 2026. Payments are subject to RBC’s credit risk.