Royal Bk Can SEC Filings

Royal Bank of Canada (RY) is issuing a small, $2.4 million offering of Auto-Callable Contingent Coupon Geared Buffer Notes due 21 December 2028. The notes are linked to the Nikkei 225, Russell 2000, S&P 500 and EURO STOXX 50; performance is determined by the least-performing index.

Income mechanics. Investors are eligible for a monthly contingent coupon of 0.9542 % (11.45 % p.a.) when every index closes at or above 75 % of its Initial Value on the relevant observation date. If all four indices are at or above 100 % of their Initial Values on any observation from 18 September 2025 onward, the notes are automatically called at par plus the coupon.

Principal at risk. If the notes are not called and the least-performing index is ≥70 % of its Initial Value at maturity, principal is repaid in full. If it is below 70 %, principal declines by approximately 1.42857 % for each 1 % fall beyond the 30 % buffer, exposing investors to amplified downside.

Key terms. Issue price 100 % ($1,000); initial estimated value $979.48 (≈2.05 % below offer); underwriting discount 0.06 % ($0.60 per $1,000); CUSIP 78017PAP6. Notes are unsecured, unsubordinated obligations of RBC, subject to full issuer credit risk, not CDIC or FDIC insured, not bail-inable, and will not be listed on any exchange.

Timeline highlights. Trade date 18 June 2025, issue date 24 June 2025. Monthly coupon, call-observation and payment schedule extends through valuation on 18 December 2028 and maturity on 21 December 2028.

Royal Bank of Canada (RY) has filed a 424B2 pricing supplement for a new $3.67 million offering of “Airbag In-Digital Securities” linked to the S&P 500 Index. The two-year senior unsecured notes pay no coupons; instead, investors receive a fixed Digital Return of 18.45% at maturity only if the final S&P 500 level is at least 90% of the initial level (the Digital Barrier/Downside Threshold).

If the index closes below that 90% threshold on the final valuation date (21 Jun 2027), principal is exposed to 1.11111× downside gearing, resulting in a loss of roughly 1.11% of principal for each 1% decline beyond the 10% threshold—up to total loss. The securities, issued in $10 denominations (minimum purchase $1,000), will not be exchange-listed and can be sold only through UBS fee-based advisory accounts. UBS, acting as placement agent, receives no sales commission.

The initial estimated value calculated by RBC is $9.95 per $10 note, below the $10 public offering price, reflecting placement fees, structuring costs and hedging expenses. Key dates are Trade: 18 Jun 2025; Settlement: 23 Jun 2025; Final Valuation: 21 Jun 2027; Maturity: 23 Jun 2027.

Risk highlights: unsecured creditor exposure to RBC; potential full loss of principal; limited upside capped at 18.45%; no interim payments; limited liquidity; market value may trade below the $9.95 estimated value. These notes suit investors with a moderately bullish or neutral two-year view on the S&P 500 who can tolerate high downside risk and illiquidity.

Royal Bank of Canada has announced Capped Return Notes linked to the MSCI Emerging Markets Index, due June 27, 2030. The notes offer investors potential upside participation in the index's performance with a maximum return capped at 61% and principal protection if the index declines.

Key features include:

• 100% participation rate in the index's positive performance up to the 61% cap
• Return of principal if the index declines
• $1,000 minimum investment
• No periodic interest payments
• Maximum payment at maturity of $1,610 per $1,000 principal amount

Notable risks include credit risk of Royal Bank of Canada, limited upside potential due to the return cap, and no interest payments. The notes will not be listed on any securities exchange. The initial estimated value is expected to be between $904.00 and $954.00 per $1,000 principal amount, below the public offering price.

Royal Bank of Canada (RY) is marketing a new Series J senior unsecured structured note linked to the S&P 500® Index. The Capped Leveraged Buffered Notes will mature in roughly 26-29 months and pay no periodic interest. Investors purchase in $1,000 denominations and receive a cash payment at maturity determined as follows:

• Upside: 180 % participation in any positive index performance, capped at a maximum settlement amount expected between $1,209.16 and $1,246.06 (≈ +20.9 % to +24.6 %).
• Principal protection: A 15 % downside buffer. If the S&P 500 declines ≤ 15 %, investors receive full principal; below the buffer, losses accelerate at ~1.1765 × the decline beyond -15 %, exposing holders to a total loss of principal in a severe draw-down.
• Key levels set on trade date (June 2025): Initial index level = closing SPX on pricing date; Cap level ≈111.62 %–113.67 % of initial; Buffer level = 85 % of initial.
• Credit terms: Senior unsecured obligation of RBC, not deposit-insured or bail-inable; payments subject to RBC’s credit risk.
• Pricing / liquidity: Issue price 100 % of principal; initial estimated value expected $965–$995, below par, reflecting hedging costs and RBC’s funding spread. No exchange listing; secondary market, if any, will be made by RBC Capital Markets (RBCCM) on a best-efforts basis and likely at a discount.
• Risk highlights: capped upside, potential full loss, no interim interest, price volatility, limited liquidity, tax uncertainty, and conflicts of interest as RBCCM acts as calculation agent.

The deal provides leveraged equity exposure with partial downside protection but sacrifices dividends, uncapped upside and liquidity. It primarily appeals to investors comfortable with RBC credit exposure who seek enhanced upside over a 2-year horizon while accepting a hard cap and the risk of substantial principal loss below a 15 % decline.

Royal Bank of Canada (RY) is issuing US$1,000,000 of Bearish Leveraged Buffered S&P 500 Index-Linked Notes due July 21, 2026. The notes are senior unsecured obligations linked to the performance of the S&P 500 Index (initial level 5,982.72 on June 17, 2025). They pay no periodic interest; the sole return is a cash payment at maturity that depends on the index level on the determination date (July 17, 2026).

• Bearish payoff: If the S&P 500 closes below the initial level, investors receive principal plus 300 % of the index decline, up to a maximum settlement of US$1,390 per US$1,000 (i.e., maximum 39 % return, achieved when the index falls 13 %).
• Neutral range: If the index is flat or rises by ≤ 6 %, investors receive the principal (US$1,000).
• Down-buffered loss: If the index rises by > 6 %, repayment equals principal plus (index return + 6 %). The payment cannot be lower than US$60 (94 % loss).
• Initial estimated value: US$983.44 per US$1,000, below the 100 % issue price, indicating embedded fees and hedging costs.
• Underwriting terms: Issue price 100 %, underwriting discount 1.08 %, net proceeds 98.92 %.
• The notes are not FDIC or CDIC insured, are senior unsecured debt, and are explicitly not bail-inable under Canadian law.

Investors face Royal Bank of Canada credit risk, potential illiquidity, and exposure to adverse S&P 500 movements outside the defined bearish window. The offer is made under a 424(b)(2) prospectus supplement dated June 17, 2025 and must be read together with the December 20, 2023 base prospectus, Series J prospectus supplement, Underlying Supplement 1A, and Product Supplement 1A.

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.