RBC Files Prospectus Supplement for Medium-Term Notes

TL;DR

RBC dropped a prospectus supplement for new debt notes. Watch for rate changes.

AI Summary

Royal Bank of Canada filed a 424B2 prospectus supplement on April 6, 2026, related to its Series L, No. 658 Senior Medium-Term Notes, Series L. The filing details the terms and conditions of these notes, which are part of a larger debt issuance program.

Why It Matters

This filing provides details on new debt offerings by a major financial institution, which can impact its funding costs and capital structure.

Risk Assessment

Risk Level: low — This is a standard prospectus supplement for debt issuance, not indicating new or unusual risks for the company.

Key Numbers

• 131560 — Document Size (KB) (Size of the main 424B2 filing document)

Key Players & Entities

• ROYAL BANK OF CANADA (company) — Filer of the prospectus supplement
• 0000950103-26-005370 (filing_id) — SEC Accession Number for the filing
• 2026-04-06 (date) — Filing date of the prospectus supplement
• Series L, No. 658 Senior Medium-Term Notes, Series L (financial_instrument) — Specific debt notes being offered

FAQ

Key Financial Figures

• $389,000 — ”) Aggregate principal amount: $389,000 Stated principal amount: $1,000 per
• $1,000 — : $389,000 Stated principal amount: $1,000 per security Pricing date: April 2,
• $25.50 — ll pay a contingent quarterly coupon of $25.50 (2.55% of the stated principal amount,
• $84 — lier value Downside threshold value: $84.84, which is equal to 65% of the initia
• $130 — mal places) Initial underlier value: $130.52, which was the closing value of the
• $1,000.00 — ons Proceeds to issuer Per security $1,000.00 $12.50 (1) $5.00 (2) $982.50 To
• $12.50 — s to issuer Per security $1,000.00 $12.50 (1) $5.00 (2) $982.50 Total $389
• $5.00 — Per security $1,000.00 $12.50 (1) $5.00 (2) $982.50 Total $389,000 $6,807
• $982.50 — y $1,000.00 $12.50 (1) $5.00 (2) $982.50 Total $389,000 $6,807.50 $382,192.
• $6,807.50 — $5.00 (2) $982.50 Total $389,000 $6,807.50 $382,192.50 (1) RBCCM, acting as age
• $382,192.50 — $982.50 Total $389,000 $6,807.50 $382,192.50 (1) RBCCM, acting as agent for Royal
• $17.50 — l Bank of Canada, will receive a fee of $17.50 per security and will pay to Morgan Sta
• $982.73 — r to as the initial estimated value, is $982.73 per security and is less than the publi
• $100.00 — Hypothetical initial underlier value: $100.00 Hypothetical downside threshold value
• $65 — Hypothetical downside threshold value: $65.00, which is 65% of the hypothetical in

Filing Documents

• dp244911_424b2-mseln658.htm (424B2) — 128KB
• dp244911_exfilingfees.htm (EX-FILING FEES) — 5KB
• image_001.jpg (GRAPHIC) — 2KB
• image_012.jpg (GRAPHIC) — 2KB
• image_010.jpg (GRAPHIC) — 64KB
• image_011.jpg (GRAPHIC) — 43KB
• image_009.jpg (GRAPHIC) — 22KB
• 0000950103-26-005370.txt ( ) — 408KB
• dp244911_exfilingfees_htm.xml (XML) — 2KB

Risk Factors

Risk Factors An investment in the securities involves significant risks. We urge you to consult your investment, legal, tax, accounting and other advisers before you invest in the securities. Some of the risks that apply to an investment in the securities are summarized below, but we urge you to read also the “Risk Factors” sections of the accompanying prospectus, prospectus supplement and product supplement. You should not purchase the securities unless you understand and can bear the risks of investing in the securities. Risks Relating to the Terms and Structure of the Securities § The securities do not guarantee the return of any principal. The terms of the securities differ from those of ordinary debt securities in that the securities do not guarantee the payment of regular interest or the return of any of the stated principal amount at maturity. Instead, if the securities have not been automatically redeemed prior to maturity and if the final underlier value is less than the downside threshold value, you will be exposed to the decline in the closing value of the underlier, as compared to the initial underlier value, on a 1 to 1 basis and you will receive for each security that you hold at maturity an amount equal to the stated principal amount multiplied by the underlier performance factor. In this case, the payment at maturity will be less than 65% of the stated principal amount and could be zero. § You may not receive any contingent quarterly coupon for any quarterly period where the closing value of the underlier is less than the downside threshold value. A contingent quarterly coupon will be paid with respect to a quarterly period only if the closing value or final underlier value is greater than or equal to the downside threshold value on the applicable determination date. If the closing value or final underlier value remains below the downside threshold value on each determination date, you will not receive any contingent quart