Every 424B that Royal Bank of Canada (RY) has filed with the SEC in the last 12 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 424B covers the supplement that carries the terms of a priced offering, so if you follow RY and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full RY filings page.
Royal Bank of Canada is offering Auto-Callable Contingent Coupon Barrier Notes linked to the least performing of the VanEck Semiconductor ETF (SMH) and the State Street SPDR S&P Oil & Gas Exploration & Production ETF (XOP). The Notes are issued at 100.00% of par per $1,000 principal with underwriting discounts of 1.00% (proceeds to RBC 99.00%). Key dates: Strike Date July 9, 2026; Trade Date July 10, 2026; Issue Date July 15, 2026; Valuation Date July 9, 2029; Maturity Date July 12, 2029. Coupons are contingent and equal to $40.00 per $1,000 (4.00% quarterly; 16.00% per annum) when each Underlier is at or above its 50% Coupon Threshold on the prior observation date. The Notes auto-call if both Underliers close at or above their Initial Underlier Values on any Call Observation Date; then holders receive par plus that quarter’s Contingent Coupon. At maturity, if not called, full principal is returned only if the Least Performing Underlier is >= its 50% Barrier; otherwise repayment equals $1,000 × (1 + Underlier Return) and principal can be substantially lost. The initial estimated value is stated between $920.01 and $970.01 per $1,000. All payments are subject to RBC credit risk and U.S. tax uncertainties described herein.
Royal Bank of Canada is offering Auto-Callable Contingent Coupon Barrier Notes with Memory Coupon linked to the least performing of Class C Alphabet, JPMorgan Chase and Microsoft. Per $1,000 principal the public offering price is $1,000 (100.00%) with an underwriting discount of 3.00%, leaving proceeds to the Bank of 97.00%. The Notes pay a monthly contingent coupon of $12.50 per $1,000 (15.00% per annum) when each underlier is at or above a 70% coupon threshold, feature automatic monthly calls if all underliers are at or above their initial values beginning January 15, 2027, and return principal at maturity only if the least performing underlier finishes at or above its 60% barrier; otherwise investors suffer downside equal to that underlier’s percentage loss.
Key dates: Trade Date July 15, 2026, Issue Date July 20, 2026, Valuation Date July 16, 2029, Maturity Date July 19, 2029. The issuer notes the initial estimated value is expected to be between $900.00 and $950.00 per $1,000, which is less than the public offering price.
Royal Bank of Canada is offering Auto-Callable Contingent Coupon Barrier Notes linked to the least performing of the Nikkei 225, Russell 2000 and EURO STOXX 50. The Notes are sold at 100.00% of principal with no underwriting commission and an initial estimated value between $934.50 and $984.50 per $1,000 principal. Trade Date is July 17, 2026, Issue Date July 22, 2026, Valuation Date July 17, 2030 and Maturity Date July 22, 2030. Quarterly contingent coupons of $33.25 per $1,000 (13.30% per annum) may be paid if each Underlier meets a 65% Coupon Threshold; automatic calls occur if all Underliers are at-or-above their Initial Underlier Value on a Call Observation Date. If the Least Performing Underlier finishes below its Barrier (65%), principal may be reduced pro rata.
Royal Bank of Canada is offering Barrier Digital Notes linked to the least performing common stock of Advanced Micro Devices, Inc., Broadcom Inc. and Palantir Technologies Inc. The Notes are sold at par per $1,000 principal amount and pay either $1,000 + $1,000 × 47.95% if the Least Performing Underlier’s Final Underlier Value is >= its Barrier Value (50% of its Initial Underlier Value), or $1,000 + $1,000 × Underlier Return if below the Barrier. Trade Date is July 17, 2026, Issue Date July 22, 2026, Valuation Date October 18, 2027 and Maturity Date October 21, 2027. All payments are subject to RBC credit risk.
Royal Bank of Canada offers auto-callable, principal-at-risk market‑linked notes tied to the lowest performing of the Russell 2000®, S&P 500® and EURO STOXX 50®. The notes have a face amount of $1,000 per security, an initial estimated value range of $907.50–$957.50 per security, a pricing date of July 30, 2026 and a stated maturity of August 2, 2030. The contingent coupon rate will be set on the pricing date and will be at least 10.50% per annum. If not auto‑called, principal at maturity depends on the lowest performing Index and is fully exposed below a downside threshold equal to 75% of each Index’s starting value.
Royal Bank of Canada is offering $1,082,000 of Auto-Callable Contingent Coupon Geared Buffer Notes linked to the Bloomberg US Large Cap VolMax Index. The Notes mature on July 10, 2031, pay a monthly Contingent Coupon of $14.80 per $1,000 when the Underlier meets a monthly threshold, and can be automatically called if the Underlier equals or exceeds its initial level on a Call Observation Date. Principal protection is partial: a 30% buffer applies and losses beyond that buffer are multiplied by a Downside Multiplier of ~1.42857. The public offering price is 100.00% and the initial estimated value is $961.50 per $1,000 principal amount. Payments and any market value are subject to the Bank’s credit risk and the Notes include complex index deductions, financing costs and daily rebalancing that may materially reduce returns.
Royal Bank of Canada is offering Auto-Callable Contingent Coupon Barrier Notes linked to the least performing of the Nikkei 225, Russell 2000 and EURO STOXX 50. The Trade Date is July 17, 2026, Issue Date July 22, 2026, Valuation Date July 18, 2028 and Maturity Date July 21, 2028. If not called, the Notes pay a Contingent Coupon of $32.50 per $1,000 (a 3.25% quarterly rate / 13.00% per annum) when each Underlier meets its Coupon Threshold on the relevant observation date. At maturity, if the Least Performing Underlier is at or above its Barrier (65% of its Initial Underlier Value), investors receive $1,000; if below the Barrier, payoff equals $1,000 plus the Underlier Return of the Least Performing Underlier, which can result in substantial principal loss. Initial estimated value is stated between $936.50 and $986.50 per $1,000 and will be less than the public offering price.
Royal Bank of Canada is offering $3,711,000 of Auto-Callable Contingent Coupon Barrier Notes due July 10, 2031, linked to the least performing of the Nasdaq-100, Russell 2000 and S&P 500. Notes pay a contingent monthly coupon of $7.75 per $1,000 (9.30% per annum) when index levels meet a 75% coupon threshold and include a 70% barrier for principal protection determination on the July 7, 2031 valuation date. The offering price is 100% with underwriting discounts of 3.625%; the initial estimated value is $949.59 per $1,000. Investors face issuer credit risk and the risk of losing a substantial portion or all principal if the least performing underlier closes below its Barrier Value at maturity.
Royal Bank of Canada is offering Auto-Callable Contingent Coupon Barrier Notes with Memory Coupon linked to the common stock of Morgan Stanley, due January 20, 2028, subject to completion.
The Notes have a trade date of July 14, 2026, issue date of July 17, 2026 and valuation date of January 14, 2028. If payable, the Contingent Coupon is $26.40 per $1,000 (2.64% per quarter; 10.56% per annum). The Barrier and Coupon Threshold equal 60% of the Initial Underlier Value. If not auto-called, principal repayment at maturity depends on the Final Underlier Value: full $1,000 if at or above the Barrier, otherwise physical delivery of Morgan Stanley shares equal to the Physical Delivery Amount.
The public offering price is 100.00% with underwriting discounts of 1.50%. The issuer’s initial estimated value is stated between $932.00 and $982.00 per $1,000 principal amount.
The Royal Bank of Canada is offering $1,674,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Microsoft Corporation. The Notes pay a quarterly contingent coupon at a 10.40% per annum rate if the Underlying meets the Coupon Barrier. The Initial Underlying Value is $386.74 with a Coupon Barrier and Downside Threshold equal to $251.38 (65% of the Initial Underlying Value). The Notes are automatically callable on a quarterly Call Observation Date if the Underlying closes at or above the Initial Underlying Value; called Notes pay principal plus the quarter's contingent coupon. If not called, and the Final Underlying Value is below the Downside Threshold at maturity, repayment of principal is reduced proportionately to the negative Underlying Return, potentially resulting in a loss of up to 100% of principal. Payments are subject to RBC's creditworthiness. Term ends on July 12, 2027. Minimum denomination is $10 and minimum investment $1,000.
The Royal Bank of Canada is offering non‑interest bearing, senior debt notes linked to the S&P 500® Index with a 10.00% buffer (buffer level = 90.00% of the initial underlier level) and an upside participation rate of 130%. Payments at maturity are cash‑settled and capped: a cap level expected between 111.13% and 113.09% of the initial underlier level, producing a maximum settlement amount expected between $1,144.69 and $1,170.17 per $1,000 principal. The initial estimated value is expected to be between $965.60 and $995.60 per $1,000, which is less than the 100.00% original issue price. The term will be set on the trade date (determination date expected ~14–16 months after trade date). The notes are unsecured, not listed, not FDIC‑insured, and principal is at risk if the final underlier level is below the buffer.
Royal Bank of Canada is offering Contingent Coupon Barrier Notes with a Memory Coupon feature linked to the least performing share of Starbucks, Tesla and Texas Instruments. The Notes pay monthly contingent coupons if each Underlier meets a monthly coupon threshold and return either full principal at maturity or a reduced principal tied to the Least Performing Underlier if that Underlier falls below its 50% barrier.
Key economics shown: public offering price 100% of principal, initial estimated value expected between $922.70 and $972.70 per $1,000, contingent coupon at least $14.625 per $1,000 (at least 17.55% per annum), Valuation Date July 30, 2029 and Maturity Date July 31, 2029. All payments are subject to the Bank’s credit risk.
Royal Bank of Canada (RY) priced market‑linked, auto‑callable notes linked to the EURO STOXX 50® Index with a $1,000 face amount per security and an initial estimated value expected between $916.00 and $966.00 per security. The notes pay no periodic interest, carry a 150% upside participation rate, an automatic call feature (first call date July 20, 2027) with a call premium of at least 15.75%, and contingent downside exposure if the ending index value falls below a 75% threshold of the starting value. If not called, maturity is July 19, 2030; maturity payment depends on index performance and may result in loss of principal.
Royal Bank of Canada (RBC) priced a capped, buffered, principal‑at‑risk structured note linked to the S&P 500® Index. Each note has a $1,000 principal amount and no periodic interest. The notes pay at maturity based on the underlier return measured from the trade date to a determination date expected 20–23 months after the trade date, subject to adjustment. The notes provide 130% upside participation up to a cap (cap level expected between 115.94% and 118.75% of the initial underlier level) and include a 12.50% buffer (buffer level = 87.50% of the initial underlier level). The initial estimated value is expected between $965.40 and $995.40 per $1,000 principal amount and will be less than the original issue price. Payment at maturity is subject to RBC’s credit risk and customary index‑adjustment and market‑disruption provisions.
Royal Bank of Canada is offering $500,000 in Capped Return Notes linked to the SPDR® Gold Trust (GLD). The Notes pay at maturity based on the Underlier Return with a Participation Rate of 100%, a Maximum Return of 23.17% (max payment $1,231.70 per $1,000) and a Minimum Return of -15% (minimum payment $850 per $1,000). Key dates include a Strike Date of July 2, 2026, Trade Date of July 6, 2026, Issue Date of July 9, 2026, Valuation Date of July 15, 2027 and Maturity Date of July 20, 2027. Payments are subject to the Bank’s credit risk and the pricing supplement highlights limited secondary market liquidity and other risks.
Royal Bank of Canada is offering structured Senior Global Medium-Term Notes—market linked, auto-callable securities tied to the lowest performing common stock of Apple Inc., The Goldman Sachs Group and Eli Lilly due July 19, 2029. The securities have a $1,000 face amount and an initial estimated value expected between $907.00 and $957.00 per security. The contingent coupon rate will be determined on the pricing date and will be at least 18.15% per annum. Quarterly contingent coupons are payable only if the lowest performing underlying meets its coupon threshold (70% of starting value); an automatic call occurs if the lowest performing underlying equals or exceeds its starting value on specified quarterly calculation days. At maturity, if not called, principal repayment depends on the ending value of the lowest performing underlying: full face amount if at or above the 60% downside threshold, or a pro rata loss (potentially total loss) if below.
Key risks: no participation in upside of any underlying, full downside exposure to the worst-performing underlying at maturity, potential lack of secondary market liquidity, payment subject to RBC credit risk, and uncertain U.S. federal tax treatment. Pricing date is July 15, 2026, issue date July 20, 2026, final calculation day July 16, 2029, stated maturity July 19, 2029.
Royal Bank of Canada is offering Auto-Callable Contingent Coupon Barrier Notes linked to the least performing of the Russell 2000®, S&P 500® and EURO STOXX 50® indices. The Notes are sold at par per $1,000 principal amount with an underwriting concession of 2.35%; RBC expects proceeds to be 97.65% of par and an initial estimated value between $910.00 and $960.00 per $1,000.
The Notes pay a quarterly contingent coupon of $20.00 per $1,000 (2.00% per quarter, 8.00% per annum) if each underlier is at or above its coupon threshold on the relevant observation date, are callable on quarterly observation dates if all underliers are at or above their Initial Underlier Values, and return principal at maturity only if the least performing underlier is at or above its Barrier Value (60.50% of its Initial Underlier Value). Trade Date: July 8, 2026; Issue Date: July 13, 2026; Valuation Date: July 9, 2029; Maturity Date: July 12, 2029. All payments are subject to the Bank's credit risk.
Royal Bank of Canada is offering Geared Buffer Digital Notes linked to Tesla, Inc. common stock. The Notes have a public offering price of 100% of principal with underwriting discounts of 1.00% (proceeds to the Bank 99.00%). The Trade Date is July 10, 2026, Issue Date July 15, 2026, Valuation Date July 23, 2027 and Maturity Date July 28, 2027.
The structure pays a Digital Return of 15.28% if the Final Underlier Value is at or above the Buffer Value (defined as 70% of the Initial Underlier Value). If the Final Underlier Value is below the Buffer Value, payment equals principal adjusted by the Buffer Percentage 30% and a Downside Multiplier of approximately 1.42857, which can result in partial or total loss of principal. The initial estimated value is expected to be between $920.00 and $970.00 per $1,000 principal amount and will be less than the public offering price. All payments are subject to the issuer’s credit risk.
Royal Bank of Canada offers $9,054,000 of Auto-Callable Contingent Coupon Geared Buffer Notes linked to NVIDIA Corporation common stock. The Notes pay quarterly contingent coupons of $38.20 per $1,000 if the Underlier is at or above a 75% threshold on observation dates, are auto‑callable if the Underlier meets or exceeds its initial value on any quarterly call observation date, and mature on July 20, 2027 with principal repayment contingent on the Final Underlier Value and a 25% buffer with a downside multiplier of approximately 1.33333. The initial estimated value is $989.22 per $1,000 principal amount and the public offering price is 100% of principal. All payments are subject to Royal Bank of Canada credit risk and various tax and market risks summarized in the pricing supplement.
Royal Bank of Canada is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Microsoft Corporation with a term of approximately one year, maturing on July 12, 2027. The notes pay a Contingent Coupon of 10.40% per annum paid in equal quarterly installments if Microsoft closes at or above the Coupon Barrier on each Coupon Observation Date. The Initial Underlying Value was set at $386.74 on the Strike Date; the Coupon Barrier and Downside Threshold are $251.38 (65% of the Initial Underlying Value). The notes are automatically called on any Call Observation Date when the Underlying closes at or above the Initial Underlying Value, in which case holders receive principal plus the applicable Contingent Coupon. If not called, repayment at maturity is full principal plus any final Contingent Coupon only if the Final Underlying Value is at or above the Downside Threshold; otherwise holders receive $10 + ($10 × Underlying Return) and can lose up to 100% of principal. Minimum denomination is $10 per note with a minimum investment of $1,000. The initial estimated value on the Trade Date is expected to be between $9.30 and $9.80 per note; UBS will receive a commission of $0.15 per note. All payments are subject to RBC's creditworthiness; the notes are unsecured and unlisted.
Royal Bank of Canada is offering $823,000 aggregate principal amount of Auto-Callable Contingent Coupon Barrier Notes linked to the least performing of the Nasdaq-100, Russell 2000 and S&P 500. The notes pay a contingent monthly coupon of 0.7292% per month (8.75% per annum) if each underlier meets its monthly coupon threshold, are callable quarterly beginning about one year after issuance, and mature on July 8, 2031. Investors receive principal at maturity if the least performing underlier is at or above its 70% barrier; if below the barrier, repayment equals principal adjusted by the underlier return of the least performing underlier, which can result in substantial principal loss. The issue price is par and the initial estimated value is $952.68 per $1,000.
Royal Bank of Canada offers Auto-Callable Contingent Coupon Buffer Notes linked to the Bloomberg US Large Cap VolMax Index. The Notes pay a contingent quarterly coupon of $31.25 per $1,000 (3.125% quarterly; 12.50% annualized) when the Underlier is at or above a Coupon Threshold equal to 60% of the Initial Underlier Value on the preceding observation date. The Notes are callable beginning on the fourth quarterly Call Observation Date: if called, holders receive $1,000 plus the then-payable Contingent Coupon and any unpaid contingent coupons on the Call Settlement Date. If not called, the Maturity Date is August 1, 2031 with final valuation on July 29, 2031. At maturity, if the Final Underlier Value is at or above the Buffer Value (80% of the Initial Underlier Value) holders receive $1,000; if below the Buffer Value the principal is reduced by the Underlier Return less the 20% buffer, which can result in significant principal loss. The Trade Date is July 29, 2026 and Issue Date is August 3, 2026. All payments are subject to RBC credit risk; the Notes are unsecured senior debt. This pricing supplement contains additional risk, tax, and distribution disclosures and should be read with the referenced prospectus documents.
Royal Bank of Canada is offering $416,000 in Enhanced Return Barrier Notes linked to the Solactive Equal Weight U.S. Semi Conductor Select AR Index, due July 8, 2031. The notes pay a participation return of 103.05% if the index finishes above its July 2, 2026 level; a principal repayment of $1,000 occurs if the final index value is between the Initial Underlier Value and the Barrier Value (70% of the Initial Underlier Value); below the Barrier Value the payment equals principal plus the Underlier Return, exposing investors to a substantial loss of principal.
The offering price is par ($1,000 per note) with an initial estimated value of $939.37 per $1,000. Underwriting discounts are 3.625% and proceeds to the issuer are $400,920. All payments are subject to the Bank’s credit risk and applicable tax and withholding rules described in the supplement.
Royal Bank of Canada is offering $1,064,000 principal amount of Auto-Callable Contingent Coupon Barrier Notes linked to the common stock of Broadcom Inc. (ticker AVGO). The Notes have a Trade Date of July 2, 2026, an Issue Date of July 8, 2026, and mature on January 6, 2028. They pay a contingent quarterly coupon of $35.125 per $1,000 (14.05% per annum) when the Underlier meets the coupon threshold, are auto‑callable if the Underlier is at or above the initial value on a call observation date, and return principal at maturity only if the Final Underlier Value is at or above the 50% barrier (Coupon Threshold and Barrier Value: $180.23). If the Final Underlier Value is below the barrier, principal is reduced proportionally to the Underlier Return. All payments are subject to the issuer’s credit risk.
Royal Bank of Canada is offering senior unsecured floating rate notes under a pricing supplement dated July 7, 2026, to its shelf prospectus and prospectus supplement dated December 20, 2023. The Notes pay interest quarterly at USD Compounded SOFR Index plus a spread, are denominated in U.S. dollars with minimum denominations of $2,000, will not be listed on any exchange and are bail-inable and subject to conversion under subsection 39.2(2.3) of the Canada Deposit Insurance Corporation Act.
The Notes will settle in book-entry form through DTC (including Euroclear, Clearstream and CDS). Interest and principal are payable in cash, payments are subject to the Bank’s credit risk, and holders are deemed to agree to the Canadian bail-in regime and related jurisdictional provisions. The pricing supplement incorporates the prospectus terms and warns of tax, market liquidity and legal risks including proposed Canadian tax changes (the January 29, 2026 Tax Proposals) that may affect withholding and Additional Amounts.
Royal Bank of Canada priced a U.S. dollar senior fixed rate/floating rate note offering under its Series J medium‑term note program. The pricing supplement dated July 7, 2026 describes senior unsecured, bail‑inable notes subject to conversion under subsection 39.2(2.3) of the Canada Deposit Insurance Corporation Act. Interest will be paid in cash; the notes pay a fixed rate for an initial period and a USD Compounded SOFR Index‑based floating rate thereafter, with quarterly resets and a spread. The notes will settle in book‑entry through DTC (including Euroclear, Clearstream and CDS) and will not be listed on any exchange. The supplement highlights Canadian withholding tax risk tied to the January 29, 2026 proposed amendments to the Tax Act and confirms RBC Capital Markets, LLC is serving as calculation agent. Redemption provisions, additional amounts, payment conventions, and Canadian bail‑in acknowledgements are set out in the supplement.
Royal Bank of Canada is offering Auto-Callable Contingent Coupon Barrier Notes linked to the least performing of the Nasdaq-100, Russell 2000 and EURO STOXX 50 indices. The Notes pay a Contingent Coupon of $20 per $1,000 (2.00% per quarter, 8.00% per annum) when each Underlier is at or above its Coupon Threshold on the relevant observation date and are subject to automatic early call if, on a Call Observation Date, each Underlier is at or above its Initial Underlier Value.
Key economic terms: Trade Date July 28, 2026; Issue Date July 31, 2026; Valuation Date July 28, 2031; Maturity Date July 31, 2031. Public offering price is 100% ($1,000 per $1,000 principal) with underwriting discounts of 3.625% (proceeds to issuer 96.375%). The initial estimated value is expected to be between $880.00 and $930.00 per $1,000. The Coupon Threshold equals 60% of each Initial Underlier Value and the Barrier Value equals 55% of each Initial Underlier Value.
At maturity (if not called), investors receive the principal unless the Final Underlier Value of the Least Performing Underlier is below its Barrier Value, in which case the investor receives $1,000 + ($1,000 × Underlier Return of the Least Performing Underlier) and may lose a substantial portion or all of principal. All payments remain subject to Royal Bank of Canada’s credit risk.
Royal Bank of Canada is offering structured, non‑interest bearing notes linked to the S&P 500® Index with a stated maturity of August 7, 2028 (subject to adjustment). For each $1,000 principal amount, holders will receive a cash settlement at maturity determined by the index return measured from the strike date (June 29, 2026) to the determination date (August 3, 2028).
If the final index level is ≥ the threshold level (90.00% of the initial level of 7,440.43), holders receive a capped threshold settlement amount of $1,187.50 per $1,000. If the final index level is below the threshold, the cash payment falls below principal and investors may lose a substantial portion, or all, of their investment. The initial estimated value at trade date is $986.01 per $1,000 and the original issue price is 100.00%.
Royal Bank of Canada offers senior market-linked notes (face amount $1,000) that are auto-callable, pay a contingent quarterly coupon (with memory), and expose principal to the downside performance of the lowest performing of GOOGL, JPM and NVDA. Pricing date is July 15, 2026 and issue date is July 20, 2026. The contingent coupon rate will be set on the pricing date and will be at least 12.40% per annum. If not called, maturity is July 20, 2028, and the maturity payment depends on the ending value of the lowest performing underlying; a decline below 50% of starting value can cause losses greater than 50% of face amount. The initial estimated value is between $905.00 and $955.00 per security and is expected to be lower than the original offering price.
Royal Bank of Canada is offering Accelerated Return Notes linked to the common stock of Netflix, Inc., maturing in approximately 14 months.
The notes have a Participation Rate of 300% on upside, a Capped Value representing a 33.00% to 37.00% return, and provide 1-to-1 downside exposure with 100% of principal at risk. The principal amount is $10.00 per unit; the public offering price is $10.00 per unit, the underwriting discount is $0.175 per unit and an estimated hedging charge is $0.05 per unit. The initial estimated value range on the pricing date is $9.06 to $9.56 per unit. Payments depend on the Starting and Ending Values of NFLX and are subject to RBC credit risk.
Royal Bank of Canada is offering Auto-Callable Contingent Coupon Barrier Notes linked to the least performing of the Nasdaq-100® Technology Sector, the Russell 2000® Index and the S&P 500® Index. The Notes have a Trade Date of July 1, 2026, Issue Date July 7, 2026, a Valuation Date of July 3, 2028 and a Maturity Date of July 7, 2028. Investors may receive a monthly Contingent Coupon of $12.375 per $1,000 (equivalent to 14.85% per annum) only if, on the relevant observation dates, each Underlier is at or above its Coupon Threshold (80% of initial value). The Notes are automatically called if, on a Call Observation Date beginning with the January 4, 2027 observation, each Underlier is at or above its Initial Underlier Value; called investors receive par plus the contingent coupon otherwise due. At maturity, if not called, investors receive par if the Least Performing Underlier is at or above its Barrier Value (70% of initial value); if below, repayment equals $1,000 plus the Least Performing Underlier's return, which can result in substantial principal loss. The initial estimated value was $994.85 per $1,000 principal amount, below the public offering price. All payments are subject to Royal Bank of Canada credit risk.
Royal Bank of Canada is offering three separate Enhanced Return Notes linked to the S&P 500 Market Agility 10 TCA 0.5% Decrement Index. The three offerings are shown on the cover: $194,000 principal amount (CUSIP 78017UM31; Valuation Date July 2, 2029; Maturity Date July 6, 2029; Participation Rate 125%), $70,000 principal amount (CUSIP 78017UM49; Valuation Date July 1, 2030; Maturity Date July 5, 2030; Participation Rate 147.50%), and $219,000 principal amount (CUSIP 78017UM56; Valuation Date July 1, 2031; Maturity Date July 7, 2031; Participation Rate 175%).
The Notes pay at maturity either principal only if the Final Underlier Value is less than or equal to the Initial Underlier Value, or $1,000 plus a leveraged payment equal to the Underlier Return times the stated Participation Rate per $1,000 principal. All payments are subject to the Bank’s credit risk and the Underlier is reduced by a 0.5% annual decrement plus transaction and funding costs.
Royal Bank of Canada is offering Auto-Callable Contingent Coupon Barrier Notes linked to Amazon.com, Inc. common stock with a total public offering amount of $5,205,000. The Notes pay a monthly contingent coupon of $8.50 per $1,000 (annualized 10.20%) when the closing stock price meets the 68% coupon threshold on observation dates. If not called, at maturity investors receive $1,000 if the Final Underlier Value is at or above the 68% Barrier; otherwise investors receive a Physical Delivery Amount of Amazon shares (4.1374 shares per $1,000) which may be worth significantly less than principal. The initial estimated value is $969.12 per $1,000 and payments are subject to Royal Bank of Canada credit risk and withholding/tax uncertainties described herein.
Royal Bank of Canada is offering Capped Return Notes linked to the SPDR® Gold Trust (GLD) with a public offering price of $1,000 per $1,000 principal amount (100%). The Notes feature a Participation Rate of 100%, a Maximum Return of 23.17% (maximum payment of $1,231.70 per $1,000) and a Minimum Return of -15% (minimum payment of $850 per $1,000).
Key dates: Strike Date July 2, 2026, Trade Date July 6, 2026, Issue Date July 9, 2026, Valuation Date July 15, 2027, Maturity Date July 20, 2027. The initial estimated value is expected to be between $938.00 and $988.00 per $1,000 and the placement agents’ fee is 1.00% ($10 per $1,000). All payments are subject to the Bank’s credit risk and certain terms are subject to postponement.
Royal Bank of Canada is offering Capped Return Notes linked to the S&P 500 Market Agility 10 TCA 0.5% Decrement Index (Bloomberg: SPMKTD). The Notes have a $1,000 principal denomination, a Trade Date of July 1, 2026, Issue Date of July 7, 2026, Valuation Date July 3, 2028 and Maturity Date July 7, 2028.
At maturity investors receive $1,000 if the Final Underlier Value is less than or equal to the Initial Underlier Value; if the Final Underlier Value is higher they receive $1,000 plus the lesser of (Underlier Return × Participation Rate) and the Maximum Return. The Participation Rate is 100% and the Maximum Return is 17.50%, so the maximum payment is $1,175 per $1,000 principal. Payments are subject to the Bank’s credit risk.
Royal Bank of Canada is offering Auto-Callable Contingent Coupon Barrier Notes linked to the least performing of the Nasdaq-100, Russell 2000 and S&P 500 indices. The offering price is stated at 100.00% (total price to public $1,972,000) and the Notes pay a contingent quarterly coupon of $30.625 per $1,000 when each Underlier is at or above its 70% threshold on the relevant observation date. The Notes may be automatically called early if, on a Call Observation Date, each Underlier closes at or above its Initial Underlier Value; if not called, at maturity investors receive principal back in full if the least performing Underlier is at or above its 70% barrier, but otherwise receive a decline equal to that Underlier Return (potentially losing a substantial portion or all principal). All payments are subject to the issuer’s credit risk.
Royal Bank of Canada is offering Auto-Callable Contingent Coupon Barrier Notes linked to Advanced Micro Devices, Inc. The Notes pay a contingent quarterly coupon of $51.25 per $1,000 (5.125% quarterly; 20.50% per annum) when observation conditions are met. The Notes have a 50% barrier (50% of the Initial Underlier Value), a Trade Date of July 17, 2026, Issue Date July 22, 2026, Valuation Date July 17, 2029 and Maturity Date July 20, 2029. If not called, principal repayment at maturity is full $1,000 if the Final Underlier Value is at or above the Barrier; if below, investors receive $1,000 × Underlier Return, which can result in substantial principal loss. Public offering price equals par; underwriting concessions total 2.35%. Initial estimated value is expected between $890 and $940 per $1,000.
Royal Bank of Canada is offering Redeemable Fixed Rate Notes due July 23, 2031 with a 5.00% annual coupon. The Notes are issued July 23, 2026, pay interest semiannually beginning January 23, 2027, and are callable by the Bank on any Interest Payment Date beginning July 23, 2027 upon 10 business days' notice. The public offering price is expressed at 100.00% with initial dealer purchase prices between $990.00 and $1,000.00 per $1,000 principal amount. The Notes are subject to Canadian bail-in powers under the CDIC Act, permitting conversion into common shares under specified statutory authority. All payments are subject to the Bank's credit risk; the Notes are not deposit-insured.
Royal Bank of Canada is offering $14,439,000 of Trigger PLUS linked to the EURO STOXX 50® Index due July 6, 2032. Each Trigger PLUS has a stated principal amount of $1,000, a leverage factor of 188% for positive index performance and a trigger set at 75% of the initial index value. If the final index value is at or above the trigger, investors receive the $1,000 stated principal (subject to issuer credit risk); if the final index value exceeds the initial value, investors receive $1,000 plus 188% of the index return; if the final index value is below the trigger, losses occur on a 1:1 basis and investors may lose all principal. The initial estimated value was $949.78 and the public offering price is $1,000.
The Royal Bank of Canada is offering Accelerated Return Notes® linked to an equally weighted basket of GS, JPM and MS. Each unit has a $10.00 principal amount and a public offering price of $10.00. The notes have an approximately 14‑month term with a scheduled maturity in September 2027 and pay at maturity only.
Payments depend on the Basket’s performance: a 300% participation in positive returns up to a capped redemption (Capped Value to be set on pricing, implying a 21.25%–25.25% capped return), and a 1:1 downside exposure to declines (principal at risk). The initial estimated value on pricing is stated between $9.02 and $9.52 per unit. The notes are unsecured, subject to RBC credit risk, include an underwriting discount of $0.175 and a hedging‑related charge of $0.05 per unit, and have limited secondary market liquidity.
Royal Bank of Canada is offering $1,348,000 of Auto-Callable Enhanced Return Barrier Notes linked to an equally weighted basket of five U.S. bank stocks. The Notes pay 116.50% per $1,000 if the Basket is at or above its initial value on the Call Observation Date; otherwise final payments depend on a 150% Participation Rate at maturity and a 70 (70%) Barrier Value. Trade Date is June 30, 2026, Issue Date is July 6, 2026, and scheduled Maturity Date is July 5, 2029. All payments are subject to the Bank’s credit risk and the pricing supplement includes detailed risk and tax considerations.
Royal Bank of Canada is offering Market Linked Securities—Auto-Callable with Contingent Coupon and Contingent Downside Principal at Risk linked to the lowest performing of the Russell 2000, the S&P 500 and the EURO STOXX 50, with a face amount of $1,000 per security and a total original offering of $5,416,000. The securities were priced on June 30, 2026, issued on July 6, 2026, and mature on July 3, 2030. They pay quarterly contingent coupons at a 10.30% per annum rate when the lowest performing index on a calculation day is at or above its coupon threshold (75% of starting value), are subject to an automatic call if the lowest performing index on specified quarterly dates is at or above its starting value, and expose investors to full downside of the lowest performing index at maturity if that index finishes below its downside threshold (75% of starting value). The initial estimated value per security was $961.65, below the $1,000 original offering price. These are senior unsecured obligations of the Bank and are subject to the Bank's credit risk, limited secondary market liquidity, tax uncertainties, and complex derivative and hedging features.
Royal Bank of Canada (RBC) is offering structured notes linked to the MSCI EAFE Index with principal exposure conditioned on index performance. Each note has a $1,000 principal amount; the trade date is June 30, 2026, original issue date July 6, 2026, determination date December 1, 2027 and stated maturity December 3, 2027.
If the final underlier level on the determination date is at least 90.00% of the initial underlier level (initial level 3,116.71), each $1,000 note pays the capped threshold settlement amount of $1,135.40. If the final underlier level is below 90.00%, the cash settlement amount declines proportionally and could be as low as $0.00, meaning you could lose your entire investment. The initial estimated value on the trade date was $993.75 per $1,000 principal.
Royal Bank of Canada is offering three separate Capped Return Dual Directional Buffer Notes, each tied to a different equity index. Each series has a Participation Rate of 100%, a Buffer Percentage of 15% and a capped upside (cover page: 24% NDX, 18.75% SPX, 28.5% SX5E). The Trade Date is June 30, 2026, Issue Date July 6, 2026, Valuation Date June 30, 2028 and Maturity Date July 6, 2028. Payments at maturity depend on the Final Underlier Value versus the Initial Underlier Value and are subject to the Bank’s credit risk.
Royal Bank of Canada priced U.S. dollar structured notes linked to the MSCI EAFE® Index with a stated maturity of February 4, 2028 (determination date February 2, 2028). The notes are non‑interest bearing and pay at maturity based on the underlier return measured from the trade date June 30, 2026.
Each $1,000 note features a 160% upside participation rate, a cap at 114.53% of the initial underlier level (maximum settlement amount of $1,232.48 per $1,000), and a 12.50% buffer (buffer level 87.50% of the initial underlier level). The initial estimated value was $993.97 per $1,000 and the aggregate principal offered is $2,107,000.
Royal Bank of Canada is offering structured, non‑interest bearing notes linked to a weighted basket of five international equity indices with a stated maturity of December 8, 2028 (subject to adjustment).
For each $1,000 principal amount, the cash payment at maturity depends on the basket return measured from the trade date June 30, 2026 to the determination date December 6, 2028. The notes pay the greater of a threshold settlement amount of $1,242.00 or $1,000 plus the basket return if the final basket level is ≥ the initial level (100). If the final basket level is ≥ 87.50% of the initial level, holders receive principal; below that buffer the payment is reduced and losses (including total loss) are possible. The offering aggregates $8,316,000 initially and the original issue price is 100.00% of principal.
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 price at 100.00% ($1,000 per $1,000 principal) with an initial estimated value of $953.11 per $1,000. Key dates: Trade Date June 30, 2026; Issue Date July 6, 2026; Valuation Date December 29, 2028; Maturity Date January 4, 2029. The Notes pay a Contingent Coupon of $16.25 per $1,000 (1.625% monthly; 19.50% per annum) when the Underlier is at or above the Coupon Threshold on observation dates, and are automatically called if the Underlier is at or above the Initial Underlier Value on a Call Observation Date. Principal at maturity is protected only if the Final Underlier Value is at or above the Barrier (70% of the Initial Underlier Value); otherwise investors bear downside equal to the Underlier Return. All payments are subject to the issuer's credit risk.
Royal Bank of Canada is offering $608,000 principal amount of Enhanced Return Notes linked to the S&P 500 Market Agility 10 TCA 0.5% Decrement Index, maturing on July 6, 2029. The Notes pay at maturity either $1,000 plus 110% of the positive Underlier Return per $1,000 principal (if the Final Underlier Value exceeds the Initial Underlier Value) or return of principal ($1,000) if the Final Underlier Value is less than or equal to the Initial Underlier Value.
Trade Date is June 30, 2026, Issue Date is July 6, 2026, Initial Underlier Value is 3,827.87, and the initial estimated value is $952.17 per $1,000 principal amount. Payments are subject to the Bank’s credit risk and the Underlier is subject to a 0.50% annual decrement and other funding and transaction costs that reduce index performance.
Royal Bank of Canada is issuing Barrier Digital Notes linked to the common stock of the underlier (ticker QCOM). The Notes have a Trade Date of July 20, 2026, Issue Date July 23, 2026, Valuation Date January 20, 2028 and Maturity Date January 25, 2028. Payment at maturity will be either $1,000 + $1,000 × Digital Return if the Final Underlier Value is at or above the Barrier (50% of the Initial Underlier Value), or $1,000 + $1,000 × Underlier Return if below the Barrier. The Digital Return will be at least 31% (to be set on the Trade Date). The initial estimated value is expected between $900.00 and $950.00 per $1,000 principal amount; the public offering price is $1,000 per $1,000 (net to issuer 98.25% after a 1.75% underwriting discount). The Notes are unsecured obligations of the Bank and are subject to the Bank's credit risk and the risks summarized in this pricing supplement.
Royal Bank of Canada is offering Auto-Callable Enhanced Return Geared Buffer Notes linked to the VanEck® Gold Miners ETF (GDX UP). The Notes have a Trade Date of June 30, 2026, Issue Date of July 6, 2026, a Valuation Date of June 30, 2028 and a Maturity Date of July 6, 2028. The Notes pay $1,233 per $1,000 on an automatic call and otherwise provide a 125% Participation Rate for upside at maturity, a 25% buffer on downside and a Downside Multiplier of approximately 1.33333. The initial estimated value is $985.94 per $1,000, below the public offering price.