ROYAL BANK OF CANADA SEC Filings

Royal Bank of Canada is offering Auto-Callable Enhanced Return Buffer Notes linked to the S&P 500 Market Agility 10 TCA 0.5% Decrement Index. The total public offering is $383,000, with proceeds to the bank of $382,042.50 after underwriting discounts. The Notes are issued at 100% of principal, but the initial estimated value is $951.08 per $1,000, reflecting fees, hedging costs and the bank’s funding rate.

The Notes can be automatically called on December 28, 2026 if the index is at or above its initial level, in which case investors receive $1,100 per $1,000 and no further payments. If not called, at maturity in December 2030 investors participate at 160% of index gains and have a 10% downside buffer; losses begin if the index falls more than 10%, and principal can be substantially reduced. Payments depend on Royal Bank of Canada’s credit, and the complex underlier is subject to ongoing fees and transaction costs that reduce performance.

Royal Bank of Canada is issuing $6,817,000 of redeemable fixed rate notes due December 23, 2032. The notes pay interest at 4.50% per annum, with semiannual payments each June 23 and December 23, starting June 23, 2026.

The notes are issued in minimum denominations of $1,000 and priced at 100.00% of principal to the public. Underwriting discounts and commissions are 0.91%, so Royal Bank of Canada expects to receive $6,754,965.30 in proceeds.

The bank may redeem the notes early, in whole but not in part, on December 23, 2027 and on any later interest payment date, on 10 business days’ notice, paying principal plus the applicable interest. The notes are bail-inable under Canadian law, meaning they can be converted into common shares or written down if Canadian bail-in powers are exercised, and they are not insured by Canadian or U.S. deposit insurance agencies.

Royal Bank of Canada is offering Auto-Callable Contingent Coupon Barrier Notes linked to the least performing of Applied Materials, Caterpillar and Eli Lilly common stocks. The Notes are issued in minimum investments of $1,000 and pay a contingent monthly coupon of $16.083 per $1,000 (about 19.30% per year) only when each stock closes at or above 70% of its initial value on the relevant observation date.

The Notes may be automatically called starting around March 30, 2026 if all three stocks are at or above their initial values, in which case investors receive $1,000 plus the coupon and no further payments. If the Notes are not called, at maturity investors get full principal back if the least performing stock is at or above 50% of its initial value; below that level, repayment is reduced in line with that stock’s loss, up to a complete loss of principal.

The initial estimated value is expected to be between $917 and $967 per $1,000, less than the public price, reflecting costs, hedging and RBC’s funding rate. The Notes are unsecured RBC debt, not insured by Canadian or U.S. deposit insurers, and involve significant market, credit and tax risks.

Royal Bank of Canada is issuing $4,460,000 of Airbag Autocallable Yield Notes linked to the common stock of CVS Health Corporation. The Notes pay a fixed monthly coupon based on an 8.00% per annum rate, regardless of CVS’s share performance, but all payments depend on Royal Bank of Canada’s credit.

The Notes can be automatically called quarterly if CVS closes at or above the Initial Underlying Value of $77.79, returning the $1,000 principal per Note plus the applicable coupon. If not called, and CVS at final valuation is at or above the Conversion Price of $66.12 (85% of the initial value), investors receive $1,000 in cash per Note plus the last coupon. If CVS finishes below the Conversion Price, investors receive the coupon and about 15.1240 CVS shares per Note, which may be worth substantially less than principal and could be worthless.

The Notes are senior unsecured debt, not insured by deposit protection schemes and will not be listed on any securities exchange. The public offering price is $1,000 per Note, including a $15 selling commission to UBS, while the initial estimated value is $981.65 per Note, reflecting structuring and hedging costs.

Royal Bank of Canada is offering Auto-Callable Contingent Coupon Notes linked to the worst performer of Advanced Micro Devices, Broadcom and Dell Class C shares. The Notes have a total offering size of $1,110,000, sold at 100% of principal, with proceeds to RBC of 96.875% after underwriting discounts.

Investors may receive a monthly contingent coupon of $6.917 per $1,000 (0.6917% per month, 8.30% per year) if on each observation date all three stocks close at or above 75% of their initial values (for example, $160.07 for AMD, $255.27 for Broadcom and $94.82 for Dell). The Notes may be automatically called quarterly if all Underliers are at or above their initial values, in which case investors receive principal plus the coupon due.

If the Notes are never called, at maturity investors receive back $1,000 per Note plus any final coupon if all Underliers are at or above their coupon thresholds, or just $1,000 if any is below. The initial estimated value is $954.69 per $1,000, reflecting hedging, fees and RBC’s funding rate, and the Notes are subject to RBC’s credit and complex U.S. tax treatment.

Royal Bank of Canada is offering S&P 500® Index-linked notes maturing on April 5, 2028, with each note having a $1,000 principal amount and $8,902,000 in aggregate initially. The notes pay no interest and are unsecured senior debt of Royal Bank of Canada.

At maturity, investors receive a cash amount tied to the S&P 500® performance from the initial level of 6,834.50 on December 19, 2025 to the determination date. Upside exposure is 150% of index gains but capped at a maximum settlement amount of $1,266.25 per $1,000, corresponding to a cap level of 117.75% of the initial level. A 15% buffer protects principal if the index decline is limited to 15%, but below 85% of the initial level principal losses increase about 1.1765% for each additional 1% drop, and investors could lose their entire investment.

The initial estimated value is $994.66 per $1,000, less than the original issue price. The notes are not listed, have no early redemption, involve Royal Bank of Canada credit risk, and are not insured by the FDIC or Canada Deposit Insurance Corporation.

Royal Bank of Canada is offering digital notes linked to the common stock of Corning Incorporated, with a total offering of $591,000. The notes are issued at 100% of principal with a minimum investment of $1,000, and no underwriting commission to RBC Capital Markets, though unaffiliated broker-dealers may receive referral fees.

At maturity in December 2028, investors receive for each $1,000 note either $1,235 (a fixed 23.50% "Digital Return") if Corning’s stock is at or above its initial value of $87.86, or $1,000 if it is below that level. The initial estimated value is $986.48 per $1,000, reflecting internal funding and hedging costs.

The notes expose holders to RBC’s credit risk, are not insured deposits or bail‑inable notes, and may trade at a discount with potentially wide bid‑ask spreads. U.S. tax counsel expects them to be treated as contingent payment debt instruments, requiring accrual of interest income over their life, with additional Section 871(m) considerations for non‑U.S. investors.

Royal Bank of Canada is issuing three Capped Enhanced Return Buffer Notes linked separately to the Nasdaq-100, Russell 2000 and S&P 500 indices, maturing on December 23, 2027. Principal amounts are $165,000 for the Nasdaq-100 note, $1,327,000 for the Russell 2000 note and $1,983,000 for the S&P 500 note.

The notes offer a 150% participation rate in index gains, subject to maximum returns of 25% (Nasdaq-100), 28.50% (Russell 2000) and 20.50% (S&P 500). A 10% downside buffer protects principal only if the index decline does not exceed 10%; beyond that, investors lose principal in line with further index losses. Initial estimated values (around $980 per $1,000 note) are below the public offering price, and secondary market liquidity and pricing may be unfavorable.

Tax treatment is uncertain; counsel views the notes as prepaid financial contracts and expects no current U.S. taxable income before disposition, but alternative IRS views or future law changes could be adverse. Non-U.S. holders are expected not to be subject to Section 871(m) dividend equivalent withholding, based on current determinations.

Royal Bank of Canada is issuing $725,000 Auto-Callable Contingent Coupon Buffer Notes linked to the least performing of Microsoft, NVIDIA and Tesla common stock, maturing on December 22, 2028. The notes pay a contingent coupon of $15.542 per $1,000 (1.5542% per month, 18.65% per year) only if on each observation date all three stocks close at or above 60% of their initial values.

The notes can be automatically called quarterly starting about one year after issuance if each underlier is at or above its initial value; in that case, investors receive $1,000 plus the coupon and no further payments. At maturity, if not called, investors receive $1,000 per note if the least performing underlier is at or above 75% of its initial value. Below this 25% buffer, repayment of principal is reduced based on the underlier’s loss, so investors can lose a substantial portion of principal.

The price to the public is 100% of principal, while the initial estimated value is $980.39 per $1,000, reflecting fees and hedging costs. The notes are unsecured obligations of Royal Bank of Canada and are subject to the bank’s credit risk and to complex U.S. tax treatment, including potential withholding for non-U.S. holders.