Royal Bk Can SEC Filings

Kronos Bio, Inc. (KRON) filed a Form 15-12G with the U.S. SEC on 30 June 2025, certifying the termination of registration of its common stock under Section 12(g) of the Securities Exchange Act of 1934 and suspending the company’s duty to file reports under Sections 13 and 15(d).

The company relied on Rule 12g-4(a)(1) and Rule 12h-3(b)(1)(i), disclosing an approximate holder count of one. No other securities remain subject to reporting obligations. The notice was signed by Chief Financial Officer Michael Hearne.

Once the Form 15 becomes effective, Kronos Bio will no longer submit periodic filings such as Forms 10-K, 10-Q or 8-K, significantly reducing public disclosure and potentially affecting liquidity for remaining shareholders.

Royal Bank of Canada (RY) has filed a Rule 424(b)(2) pricing supplement for a $5.477 million issuance of Auto-Callable Contingent Coupon Barrier Notes with a Memory Coupon, maturing 23 June 2028. The notes are linked to the least-performing of Amazon.com, Inc. (AMZN) and The Charles Schwab Corp. (SCHW).

Key structural terms:

• Contingent coupon: 10.00% p.a. (2.50% quarterly) payable only if both underliers close ≥ 50 % of their initial values (coupon threshold) on the relevant observation date; missed coupons can be “made-up” on later dates if the threshold is met (memory feature).
• Automatic call: Quarterly; notes are redeemed at par plus any due coupons if both underliers close ≥ their initial values on a call observation date.
• Barrier at maturity: 50 % of initial value. If not called and the least-performing underlier closes ≥ barrier on the valuation date, principal is repaid in full; otherwise, repayment equals par plus the underlier return, exposing investors to a 1 % loss of principal for every 1 % decline below the initial value.
• Issue price/fees: 100 % issue price; 2 % underwriting discount; net proceeds to RBC 98 %. Initial estimated value set by RBC is $968.20 per $1,000 note, below the public offer price.
• Credit & liquidity: Senior unsecured obligations of RBC; not deposit-insured or bail-inable; the notes will not be listed on any exchange.

The instrument offers elevated income potential but carries credit risk of RBC, market risk tied to AMZN and SCHW performance, and limited secondary market liquidity. Investors may receive no coupons and could lose substantial principal if the barrier is breached and the notes are not called.

Royal Bank of Canada is offering $6,244,000 in Auto-Callable Contingent Coupon Barrier Notes linked to Apple stock, due July 22, 2026. Key features include:

• Contingent Coupon Rate: 10.85% per annum, paid monthly if Apple stock closes at or above the 76% threshold of initial value ($148.69)
• Auto-Call Feature: Notes automatically redeem at 100% principal plus coupon if Apple stock closes at or above initial value ($195.64) on monthly observation dates starting December 2025
• Principal Protection: Full principal returned at maturity if Apple stock remains above 76% barrier; below barrier, investors lose 1% for each 1% stock decline
• Initial Estimated Value: $974.83 per $1,000 principal amount, below public offering price

The notes carry Royal Bank of Canada's credit risk and will not be listed on any securities exchange. Underwriting discounts are 1.50% ($93,660 total), with selling concessions up to $15.00 per $1,000 principal amount available to broker-dealers.

Royal Bank of Canada (RY) is registering a small, $1.58 million offering of Auto-Callable Dual Directional Buffer Notes linked to the S&P 500 Futures Excess Return Index. The notes are senior unsecured obligations of RY, issued at 100% of par and offered under the bank’s Global Medium-Term Note Programme (Series J). They carry no periodic interest and expose investors to both RY’s credit risk and market risk tied to the referenced index.

Key economic terms include: (i) a single call observation date on 23 Jun 2026; if the Underlier closes at or above the 17 Jun 2025 initial level of 496.78, the notes are automatically redeemed at 111.55% of par, delivering an 11.55% return in roughly one year; (ii) if not called, final redemption on 23 Jun 2028 provides 100% upside participation; (iii) a 20% downside buffer—investors receive a positive “absolute value” return (capped at 20%) when the index finishes between 80% and 100% of the initial level; (iv) losses are incurred one-for-one below the 20% buffer.

Pricing highlights show a 0.50% underwriting discount and net proceeds of 99.50% of par. The bank’s initial estimated value is $983.46 per $1,000, 1.65% below the offer price, signalling embedded dealer margin and hedging costs. The notes will not be exchange-listed, may be subject to limited secondary liquidity, and are bail-in exempt under Canadian regulations.

Investors must weigh the appeal of an 11.55% potential one-year return and limited 20% buffer against principal risk beyond the buffer, lack of interim coupons, credit exposure to RY, and valuation that starts below par. The modest deal size suggests primarily funding rather than strategic capital raising for the bank.

Royal Bank of Canada (RY) is offering $611,000 face amount of Senior Global Medium-Term Notes, Series J, structured as Market Linked Securities—Auto-Callable with Leveraged Upside Participation and Contingent Downside Principal at Risk. The securities are linked to the lowest performing of Apple Inc. (AAPL) and Amazon.com, Inc. (AMZN) common shares and mature on 23 June 2028.

Key terms

• Face amount: $1,000 per security
• Pricing date: 17 June 2025  |  Settlement: 20 June 2025
• Auto-call feature: One observation, ≈1 year after issuance. If the closing value of the lowest-performing stock ≥ its starting value, the note is automatically called at 124% of face (24% call premium). Investors forego any further upside after call.
• Maturity payoff (if not called) • Upside: 200% participation on any positive return of the lowest-performing stock. • Neutral: 100% return of face if the stock is flat or down ≤30%. • Downside: full exposure below the –30% barrier; investors can lose >30% and up to 100% of principal.
• No periodic coupons or dividends; payments depend entirely on final stock performance and RBC’s creditworthiness.
• Credit risk: Unsecured, unsubordinated obligations of Royal Bank of Canada; not CDIC or FDIC insured; not bail-inable.
• Initial estimated value: $958.09 (≈4.2% below the $1,000 offering price), reflecting dealer discount ($25.75 per note) and structuring costs.
• Secondary market: No exchange listing; designed to be held to auto-call or maturity; market value may trade below issue price.

Risk highlights: Investors bear full downside below –30%, benefit only from the lower-performing stock, receive no income, and rely on RBC’s ability to pay. The 24% call premium caps upside if the auto-call is triggered early.

Royal Bank of Canada (NYSE:RY) filed a prospectus supplement (424B2) covering the issuance of $856,000 in Market-Linked Securities tied to the EURO STOXX Banks Index. These senior, unsecured notes mature on June 23, 2028 and offer:

• Upside: Greater of a 46% contingent minimum return or 100% of the Index’s gain.
• Downside: Full exposure to losses if the Index falls more than 25% from the 198.28 starting value (threshold 148.71).
• No interest payments; principal repayment depends entirely on Index performance.
• Initial estimated value: $937.02 per $1,000 note—below the public offering price—reflecting dealer discounts and structuring costs.
• Credit risk: All payments depend on RBC’s ability to pay; the notes are not FDIC or CDIC insured and are not bail-inable.
• Distribution economics: Investors pay a $28.25 per-note agent discount; net proceeds to RBC are $831,818.

The filing contains extensive risk factors highlighting potential loss of principal, limited liquidity, and RBC credit exposure. No material changes to Royal Bank of Canada’s financial condition or strategy are disclosed.

United States Steel Corporation (U.S. Steel, ticker X) filed a series of Post-Effective Amendments to more than 20 previously effective Form S-8 registration statements. The amendments remove from registration every share of common stock that remained unsold under the company’s various employee benefit and equity incentive plans.

The action follows the closing of the June 18 2025 merger in which Nippon Steel North America, Inc. acquired U.S. Steel through its wholly owned subsidiary, 2023 Merger Subsidiary, Inc. As a result, U.S. Steel became a wholly owned subsidiary of Nippon Steel and will no longer offer or sell securities to the public under the cited plans.

Key points:

• Deregistration covers plans such as the Savings Fund Plan for Salaried Employees, the 2002 and 2005 Stock Plans, the 2016 Omnibus Incentive Compensation Plan, multiple 401(k) plans and other legacy arrangements.
• The largest individual registration affected was 14.5 million shares registered in April 2021 under the 2016 Compensation Plan; other registrations ranged from 100 k to 9.73 million shares.
• The filing is administrative and stems directly from the merger; no new financial results or forward-looking information are provided.

Because the company is now private, these amendments formally terminate the public offering of shares tied to employee benefit programs and eliminate any future reporting obligations related to these unsold securities.