Royal Bk Can SEC Filings

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 (RY) filed a Rule 424(b)(2) pricing supplement for the issuance of $2.71 million of Capped Enhanced Return Buffer Notes due 23 June 2027. The notes are linked to an unequally-weighted basket of five equity benchmarks: S&P 500® (41%), iShares MSCI EAFE ETF (23%), SPDR S&P MidCap 400® ETF Trust (15%), Russell 2000® (12%) and iShares MSCI Emerging Markets ETF (9%).

Key economic terms

• Issue price: 100% of face; minimum investment $1,000.
• Participation rate: 150% of positive basket return.
• Maximum return (cap): 28.05% → maximum redemption value of $1,280.50 per $1,000.
• Downside protection: 5% buffer. Principal is reduced 1-for-1 for losses beyond –5%.
• No periodic coupons; return realised only at maturity.
• Initial estimated value: $987.64 (2.24% below offer price) reflecting structuring and hedging costs.
• Distribution: sold at par; RBC Capital Markets LLC acts as agent and may pay unaffiliated brokers up to $8.00 per $1,000 as referral fee; no underwriting commission recorded.
• Listing: none; secondary market, if any, will be limited and at issuer’s discretion.
• Credit: senior unsecured obligation of Royal Bank of Canada; payment subject to issuer credit risk and not insured by CDIC or FDIC.

Investor outcomes

• If Basket rises, payoff = $1,000 + 150% × Basket Return, capped at 28.05%.
• If Basket finishes between –5% and 0%, investor receives full principal.
• If Basket falls more than 5%, principal loss equals Basket loss minus 5 pp (e.g., –50% Basket → –45% investor loss).

Risk disclosures emphasise potential loss of principal, limited upside, lack of liquidity, valuation below offer price, issuer conflicts of interest, tax uncertainty (possible Section 1260 “constructive ownership”), currency risk in non-USD components, and concentration in mid-cap, small-cap and emerging-market equities. Notes may be accelerated on change-in-law events.

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.

Royal Bank of Canada (RY) filed a 424B2 pricing supplement for US$1.757 million of Auto-Callable Contingent Enhanced Return Barrier Notes linked to the worst performer of Amazon.com (AMZN), Alphabet Class A (GOOGL) and Netflix (NFLX).

Structure: The notes are senior unsecured obligations maturing 23 June 2028. They pay no coupons and will be automatically called on 23 June 2026 if each underlier closes at or above its initial level, delivering 141% of par (a 41% return) and terminating the trade.

Upside at maturity: If not called and the worst underlier is above its initial level at final valuation (20 June 2028), investors receive 200% of that positive return, uncapped.

Downside/Barrier: Principal is protected only if the worst underlier remains at or above 60% of its initial level (barrier). A breach results in a 1-for-1 loss of principal, exposing holders to substantial downside.

Key economics: Issue price 100% of par; underwriting discount 2.5%; net proceeds 97.5%. RBC’s estimated initial value is $953.23 per $1,000, reflecting embedded fees and hedging costs. Minimum denomination is $1,000. The notes are not exchange-listed and are subject to RBC’s credit risk; they are not bail-inable under Canadian regulation.

Underlier data (trade date 17 June 2025): AMZN $214.82 (barrier $128.89), GOOGL $175.95 (barrier $105.57), NFLX $1,220.67 (barrier $732.40).

The filing contains standard risk language, stresses lack of FDIC/CDIC insurance, and directs investors to accompanying prospectus documents dated December 2023 and product supplement 1A dated May 2024.