Royal Bank of Canada SEC Filings

Royal Bank of Canada is offering $2,107,000 of Auto-Callable Contingent Coupon Barrier Notes linked to the Bloomberg US Large Cap VolMax Index. These five-year notes pay a monthly contingent coupon of $11.875 per $1,000 (14.25% per annum) only when the index is at or above 60% of its initial level on the observation date.

The notes can be automatically called quarterly, starting about one year after issuance, if the index is at or above its initial level, returning $1,000 plus the coupon, with no further payments. If held to maturity and not called, principal is fully returned only if the final index level is at or above 50% of the initial value; below that barrier, repayment is reduced one-for-one with the index loss and can fall to zero.

The initial estimated value is $941.35 per $1,000, below the public offering price, reflecting dealer compensation, hedging costs and the issuer’s funding rate. The complex VolMax index uses leverage, daily rebalancing and ongoing financing and fee deductions, which can significantly drag on performance and increase risk of principal loss.

Royal Bank of Canada is issuing Auto-Callable Fixed Coupon Barrier Notes linked to the worst performer among Chevron, Halliburton and Valero common stocks. The notes pay a fixed coupon of 0.7167% per month (8.60% per annum) on a $1,000 minimum denomination.

The notes may be automatically called quarterly if each stock is at or above its initial level, returning $1,000 plus the coupon and ending further payments. If not called, and the worst-performing stock is at or above 50% of its initial value on the valuation date, investors receive $1,000 plus the final coupon.

If the worst-performing stock finishes below its 50% barrier, investors receive shares of that stock worth less than $1,000, potentially down to zero, plus the final coupon. The initial estimated value is expected to be $900–$950 per $1,000, below the public price, reflecting dealer compensation and hedging. The notes are unsecured RBC debt, not insured or bail-inable, and carry complex tax and withholding considerations.

Royal Bank of Canada is offering auto-callable contingent coupon barrier notes linked to the worst performer of the EURO STOXX® Banks Index and the Technology Select Sector SPDR® ETF. The notes pay a $40 contingent coupon per $1,000 per quarter (16% per annum) when both underliers are at or above 75% of their initial values.

The notes can be automatically called quarterly if both underliers are at or above their initial values, returning $1,000 plus the coupon. If held to maturity without being called, principal is fully repaid only if the worst underlier finishes at or above its 75% barrier; otherwise, repayment is reduced one-for-one with the underlier loss, potentially to zero.

The public offering price is at par, with underwriting discounts of 1.00% and an initial estimated value between $910 and $960 per $1,000, reflecting dealer compensation and hedging costs. The notes are unsecured debt of Royal Bank of Canada, are not insured, and all payments depend on the bank’s credit. U.S. tax treatment is based on treating the notes as prepaid financial contracts with coupons taxed as ordinary income, though the IRS could disagree.

Royal Bank of Canada is offering Senior Global Medium-Term Notes, Series J, that are auto-callable, contingent-coupon securities linked to the Class C stock of Zillow Group, Inc. The notes pay a 10.80% per annum contingent coupon, paid quarterly only when Zillow’s closing price on the calculation day is at or above 60% of the starting value.

The notes can be automatically called on quarterly dates from May 2026 to November 2028 if Zillow’s closing price is at least 90% of the starting value; in that case investors receive the $1,000 face amount plus the applicable coupon and the investment ends early. If not called, at maturity in February 2029 investors receive $1,000 per note only if Zillow’s final price is at or above 60% of the starting value.

If Zillow’s final price is below that 60% downside threshold, repayment is reduced in line with the stock’s decline from the starting value, meaning investors can lose more than 40%, up to their entire principal. Investors do not participate in any upside of the stock and receive no dividends. All payments depend on Royal Bank of Canada’s ability to meet its obligations, the notes are not insured, are not bail-inable, have an initial estimated value of $953.51 per $1,000, and are not expected to have an active trading market.

Royal Bank of Canada is issuing $2,405,000 of Auto-Callable Contingent Coupon Barrier Notes with a memory feature, linked to the worst performer of the Russell 2000 Index, VanEck Semiconductor ETF and Utilities Select Sector SPDR ETF, maturing on May 15, 2030.

The notes pay a contingent coupon of $24 per $1,000 (2.40% quarterly, 9.60% annually) only if all underliers stay at or above 70% of their initial values on observation dates. Principal is protected at maturity only if the worst underlier remains at or above 60% of its initial value; below that level, repayment is reduced one-for-one with the loss in that underlier, and investors can lose most or all of their principal.

The notes may be automatically called quarterly starting February 2027 if all underliers are at or above initial values, in which case investors receive $1,000 plus due coupons. The issue price is par, but the initial estimated value is $945.82 per $1,000, reflecting dealer compensation, hedging costs and RBC’s funding rate.

Royal Bank of Canada is offering auto-callable contingent coupon barrier notes linked to the common stock of Advanced Micro Devices, Inc. (AMD). The notes pay a conditional coupon of $38.25 per $1,000 each quarter, equal to 15.30% per year, but only if AMD’s closing price on the observation date is at or above a threshold set at 50% of the initial AMD share value.

The notes can be automatically called on quarterly call observation dates starting in August 2026 if AMD’s closing value is at or above its initial value. If called, investors receive $1,000 plus the applicable coupon and no further payments. If not called and AMD’s final value on the February 17, 2028 valuation date is at or above the 50% barrier, investors receive their full $1,000 principal plus any due coupon.

If the notes are not called and AMD’s final value is below the 50% barrier, repayment is reduced one-for-one with AMD’s loss, using the underlier return formula. In that case, investors can lose a substantial portion or all of their principal. The price to the public is 100% of principal, with underwriting discounts of 2.50% and proceeds to RBC of 97.50%. The initial estimated value per $1,000 is expected to be between $916 and $966, reflecting hedging and funding costs. All payments depend on RBC’s credit, and the U.S. tax treatment is based on treating the notes as prepaid financial contracts with associated coupons, which carries some uncertainty.

Royal Bank of Canada is offering unsecured structured notes linked to the S&P 500® Index that pay no interest and have a maturity expected between 14 and 16 months after the trade date. Each note has a $1,000 principal amount and is issued at 100% of principal.

At maturity, if the S&P 500 final level is at least 90.00% of its initial level, holders receive a fixed threshold settlement amount expected to be between $1,095.70 and $1,112.50 per $1,000, capping upside. If the final level is below 90.00%, principal is reduced by about 1.1111% for every 1% the index falls below the threshold, with the potential for total loss of principal.

The initial estimated value is expected between $965.70 and $995.70 per $1,000, less than the issue price due to RBC’s funding and hedging costs. The notes are senior unsecured obligations subject to RBC’s credit risk, will not be listed on any exchange, pay no interest, and may have limited or no secondary market liquidity.

Royal Bank of Canada is offering Contingent Coupon Barrier Notes with a memory feature maturing in March 2029, linked to the worst performer among ASML Holding, Salesforce and Intuit shares. The notes are issued at 100% of principal, with no underwriting commission to RBC Capital Markets.

Investors may receive a monthly Contingent Coupon of $10.958 per $1,000 (about 1.0958% per month, 13.15% per year) if on each observation date every underlier is at or above 50% of its initial value. Missed coupons can be paid later if conditions are met. At maturity, if the least performing underlier is at or above its 50% barrier, holders receive full principal plus any due coupons; otherwise repayment is reduced one-for-one with that underlier’s loss, potentially to zero.

The initial estimated value is expected between $890 and $940 per $1,000, below the public offering price, reflecting internal funding and hedging costs. All payments depend on Royal Bank of Canada’s credit and the notes are not insured or bail-inable.

Royal Bank of Canada is offering issuer callable contingent coupon barrier notes linked to Alphabet Inc. Class A common stock. These notes pay a contingent coupon of $30.00 per $1,000 per quarter (12.00% per annum) only when the stock closes at or above a coupon threshold set at 65% of the initial value.

RBC may call the notes on quarterly call dates starting in August 2026, paying $1,000 per note plus any due coupon, after which no further payments occur. If not called and the final Alphabet value is at or above the 65% barrier, investors receive $1,000 plus any coupon; if it is below, investors receive a physical delivery amount of Alphabet shares that can be worth substantially less than principal and potentially zero.

The initial estimated value is expected to be between $925.00 and $975.00 per $1,000, below the public offering price, reflecting underwriting discounts, structuring fees and hedging costs. The notes carry RBC credit risk, involve complex U.S. tax treatment as prepaid financial contracts with associated coupons, and are subject to conflicts of interest and secondary-market risks.