ROYAL BANK OF CANADA SEC Filings

Royal Bank of Canada is offering auto-callable notes linked to the common stock of Netflix, Inc. The notes are priced at 100% of principal, with underwriting discounts of 2.50%, so proceeds to the bank are 97.50% per $1,000 note. The initial estimated value is expected to range from $907.50 to $957.50 per $1,000, reflecting fees and hedging costs.

The notes can be automatically called after one year if Netflix’s stock is at or above its initial level, in which case investors receive at least $1,160 per $1,000 and the notes end. If not called, at maturity investors get 125% of any stock gain, capped on the downside “dual directional” payoff when the stock is between the initial level and a 70% barrier. If the stock finishes below the barrier, principal is exposed to full losses, and all payments depend on RBC’s credit.

Royal Bank of Canada is offering auto-callable enhanced return dual directional barrier notes linked to the worst performer of Bristol-Myers Squibb and Merck common stock. The notes are priced at 100% of principal, with underwriting discounts of 2.50% and proceeds to the bank of 97.50% per note. They can be automatically called in January 2027 if both stocks are at or above their initial values, paying at least $1,322.50 per $1,000 of principal.

If not called, the notes mature in January 2029. Investors get 150% of the positive return of the least-performing stock if it finishes above its initial level. If that stock ends between 65% and 100% of its initial value, investors receive a positive “dual directional” payoff equal to the absolute value of its return, capped at 35%. If it closes below 65% of its initial value, principal is exposed one-for-one to losses and can be largely or fully lost. The initial estimated value is expected between $890 and $940 per $1,000, below the public offering price, and all payments are subject to RBC’s credit risk.

Royal Bank of Canada is offering auto-callable enhanced return barrier notes linked to the Russell 2000® Index, maturing in January 2031. The notes are issued at 100% of principal, with underwriting discounts of 3.50% and proceeds to the bank of 96.50% per note.

The notes may be automatically called in February 2027 if the index is at or above its initial level, paying at least $1,100 per $1,000 principal and then terminating. If not called, maturity payments range from enhanced upside with a 115% participation rate when the index finishes above its initial level, full principal return if the index stays at or above a 75% barrier, and one-for-one downside loss below that barrier, potentially to zero. The initial estimated value is expected to be $910–$960 per $1,000, below the public price, and investors face Royal Bank of Canada credit risk, limited liquidity, and tax treatment uncertainty.

Royal Bank of Canada plans to issue Barrier Digital Notes linked to the worst performer of the MSCI Emerging Markets Index and the EURO STOXX 50® Index. These notes are senior debt securities, not bank deposits or insured instruments.

Each note has a minimum investment of $1,000. The price to the public is 100% of principal, with proceeds to Royal Bank of Canada of 96.50% per note after underwriting discounts. At maturity in January 2031, investors’ payout depends on the “Least Performing Underlier.”

If that index finishes at or above its initial level, investors receive $1,000 plus the greater of the index return or a fixed digital return of at least 56%. If the least performing index is below its initial level but at or above 70% of that level (the barrier), investors receive their full principal. If it falls below the 70% barrier, repayment is reduced one-for-one with the index loss, and investors can lose a substantial portion or all of their principal.

The initial estimated value per $1,000 note is expected to be between $900 and $950, lower than the public price due to underwriting discounts, hedging costs and the issuer’s internal funding rate. Liquidity may be limited, and any secondary market price may be significantly below the purchase price.

Royal Bank of Canada is offering senior unsecured notes linked to a weighted basket of five 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 have a term expected to be 17–20 months.

The payoff at maturity depends on the basket return, with a 300% upside participation rate but a cap, so the maximum settlement amount is expected to be between $1,221.10 and $1,259.50 per $1,000. If the basket falls, losses are one-for-one with the decline, and investors can lose their entire principal.

The initial estimated value is expected to be between $944.60 and $974.60 per $1,000, below the 100% original issue price. The notes are not listed, not redeemable before maturity, and expose investors to both basket performance risk and RBC credit risk.

Royal Bank of Canada is offering senior unsecured notes linked to the S&P 500® Index, maturing on December 15, 2027. The notes have a principal amount of $1,000 each and an aggregate principal of $2,344,000, with no periodic interest and no early redemption or exchange listing.

At maturity, investors receive a cash amount based on index performance from the January 2, 2026 trade date to the December 13, 2027 determination date. Upside is enhanced by a 160% participation rate but capped at a maximum settlement amount of $1,231.68 per $1,000 note, reached when the index is at or above 114.48% of its initial level of 6,858.47. A 12.5% buffer protects principal if the index stays at or above 87.5% of the initial level; below that, losses increase at about 1.1429% of principal for each 1% drop under the buffer, and investors could lose their entire investment.

The initial estimated value is $995.50 per $1,000 note, below the issue price, reflecting RBC’s funding and hedging costs. Payments depend on RBC’s credit, and the notes are not insured by FDIC or CDIC. Liquidity may be limited because there is no exchange listing and any secondary market making by RBC Capital Markets may be discretionary.

Royal Bank of Canada is offering auto-callable contingent coupon barrier notes linked to the Class C capital stock of Alphabet Inc. (GOOG). Investors pay 100% of principal, while Royal Bank of Canada receives 98.50% after a 1.50% underwriting discount, and the initial estimated value is expected to range between $922.00 and $972.00 per $1,000 note. The notes pay a contingent coupon of $8.958 per $1,000 (0.8958% monthly, 10.75% per annum) only when GOOG’s closing value is at or above a coupon threshold set at 70% of the initial underlier value on each observation date.

The notes can be automatically called monthly starting July 20, 2026 if GOOG is at or above its initial value, in which case investors receive principal plus the applicable coupon and no further payments. If the notes are not called and at maturity GOOG is at or above the 70% barrier, investors receive full principal plus any due coupon; if GOOG is below the barrier, repayment is in GOOG shares based on a physical delivery amount, likely resulting in a substantial loss of principal and possibly total loss. All payments are subject to Royal Bank of Canada’s credit risk, and the tax treatment is described as prepaid financial contracts with associated coupons, with noted uncertainties, including for non-U.S. holders.

Royal Bank of Canada is offering Capped Enhanced Return Buffer Notes linked to the Russell 2000 Index. The Notes provide 150% participation in any positive index return, capped at a maximum return of 22.80%, so the most an investor receives at maturity is $1,228 per $1,000 of principal.

The Notes include a 10% downside buffer: if the index loss at maturity is up to 10%, investors still receive their full $1,000. If the index falls more than 10%, repayment of principal is reduced and investors can lose a substantial portion of their investment. The initial estimated value is expected to be between $945.10 and $995.10 per $1,000, below the public offering price, reflecting hedging costs and the issuer’s funding rate. All payments depend on Royal Bank of Canada’s credit.

Royal Bank of Canada is issuing Auto-Callable Dual Directional Geared Buffer Notes linked to the worst performer of the Nasdaq-100 Index and the Russell 2000 Index. The Notes are priced at 100% of principal, with underwriting discounts of 0.375% and proceeds to Royal Bank of Canada of 99.625% per $1,000. The initial estimated value is expected to range from $938.50 to $988.50 per $1,000, which is less than the public offering price.

The Notes offer semiannual auto-call features with a call return rate of 11.10% per annum, leading to call payments of $1,055.50, $1,111.00, or $1,166.50 per $1,000 if conditions are met. If not called and the least performing index finishes between 80% and 100% of its initial level, investors receive a positive “dual directional” return up to 20%. If the least performing index falls below 80% of its initial value, losses are magnified by a 1.25 downside multiplier and investors may lose some or all principal. All payments depend on Royal Bank of Canada’s credit.