RBC Files Prospectus for New Securities Offering

TL;DR

RBC just filed a prospectus for a new securities offering. Watch for details.

AI Summary

Royal Bank of Canada filed a 424B2 prospectus on April 7, 2026, detailing a new offering. The filing, with SEC Accession No. 0000950103-26-005414, pertains to a registration statement related to securities. The bank's principal executive offices are located at Royal Bank Plaza, 200 Bay Street, Toronto, Ontario, Canada.

Why It Matters

This filing indicates Royal Bank of Canada is preparing to issue new securities, which could impact its capital structure and potentially signal future growth or financing strategies.

Risk Assessment

Risk Level: low — A 424B2 filing is a standard prospectus supplement and does not inherently indicate increased risk for the company.

Key Numbers

• 424B2 — Form Type (Indicates a prospectus supplement filing)

Key Players & Entities

• Royal Bank of Canada (company) — Filer of the prospectus
• 0000950103-26-005414 (filing_id) — SEC Accession Number for the filing
• 2026-04-07 (date) — Filing date of the prospectus
• 200 Bay Street, Toronto, Ontario, Canada (location) — Mailing and Business Address of Royal Bank of Canada

FAQ

Key Financial Figures

• $990.00 — the Notes will pay a purchase price of $990.00 per $1,000 principal amount of Notes, a
• $1,000 — ill pay a purchase price of $990.00 per $1,000 principal amount of Notes, and the plac
• $10.00 — Notes and will receive a fee from us of $10.00 per $1,000 principal amount of Notes, b
• $935.00 — imated value, is expected to be between $935.00 and $985.00 per $1,000 principal amount
• $985.00 — , is expected to be between $935.00 and $985.00 per $1,000 principal amount of Notes an
• $10,000 — uo;RBCCM”) Minimum Investment: $10,000 and minimum denominations of $1,000 in
• $1,125.40 — the maximum payment at maturity will be $1,125.40 per $1,000 principal amount of Notes.
• $950 — the minimum payment at maturity will be $950 per $1,000 principal amount of Notes.
• $1,100.00 — 12.54% $1,125.40 112.540% 10.00% $1,100.00 110.000% 5.00% $1,050.00 105.000%
• $1,050.00 — 10.00% $1,100.00 110.000% 5.00% $1,050.00 105.000% 2.00% $1,020.00 102.000%
• $1,020.00 — % 5.00% $1,050.00 105.000% 2.00% $1,020.00 102.000% 0.00% $1,000.00 100.000%
• $1,000.00 — % 2.00% $1,020.00 102.000% 0.00% $1,000.00 100.000% -1.00% $990.00 99.000%
• $975.00 — 0% -1.00% $990.00 99.000% -2.50% $975.00 97.500% -5.00% $950.00 95.000% -
• $950.00 — 0% -2.50% $975.00 97.500% -5.00% $950.00 95.000% -10.00% $950.00 95.000%
• $20 — $1,000 + ($1,000 × 2%) = $1,000 + $20 = $1,020 In this example, the payment

Filing Documents

• dp244962_424b2-jpmeln654.htm (424B2) — 116KB
• image_005.jpg (GRAPHIC) — 4KB
• image_002.jpg (GRAPHIC) — 19KB
• 0000950103-26-005414.txt ( ) — 149KB

From the Filing

Registration Statement No. 333-275898 Filed Pursuant to Rule 424(b)(2) The information in this preliminary pricing supplement is not complete and may be changed. Preliminary Pricing Supplement Subject to Completion: Dated April 7, 2026 Pricing Supplement dated April __, 2026 to the Prospectus dated December 20, 2023, the Prospectus Supplement dated December 20, 2023, the Underlying Supplement No. 1A dated May 16, 2024 and the Product Supplement No. 1B dated July 22, 2025 $ Capped Return Notes Linked to the SPDR ® Gold Trust, Due April 28, 2027 Royal Bank of Canada Royal Bank of Canada is offering Capped Return Notes (the “Notes”) linked to the performance of the SPDR ® Gold Trust (the “Underlier”). · Capped Return Potential — If the Final Underlier Value is greater than the Initial Underlier Value, at maturity, investors will receive a return equal to 100% of the Underlier Return, subject to the Maximum Return of 12.54%. · 5% of Principal at Risk — If the Final Underlier Value is less than the Initial Underlier Value, at maturity, investors will lose 1% of the principal amount of their Notes for each 1% that the Final Underlier Value is less than the Initial Underlier Value, subject to the Minimum Return of -5%, for a minimum payment at maturity of 95% of the principal amount of their Notes. · The Notes do not pay interest. · Any payments on the Notes are subject to our credit risk. · The Notes will not be listed on any securities exchange. CUSIP: 78017UTM2 Investing in the Notes involves a number of risks. See “Selected Risk Considerations” beginning on page P-6 of this pricing supplement and “Risk Factors” in the accompanying prospectus, prospectus supplement and product supplement. None of the Securities and Exchange Commission (the “SEC”), any state securities commission or any other regulatory body has approved or disapproved of the Notes or passed upon the adequacy or accuracy of this pricing supplement. Any representation to the contrary is a criminal offense. The Notes will not constitute deposits insured by the Canada Deposit Insurance Corporation, the U.S. Federal Deposit Insurance Corporation or any other Canadian or U.S. governmental agency or instrumentality. The Notes are not bail-inable notes and are not subject to conversion into our common shares under subsection 39.2(2.3) of the Canada Deposit Insurance Corporation Act. Per Note Total Price to public (1) 100.00% $ Underwriting discounts and commissions (2) 1.00% $ Proceeds to Royal Bank of Canada 99.00% $ (1) Certain fiduciary accounts purchasing the Notes will pay a purchase price of $990.00 per $1,000 principal amount of Notes, and the placement agents will forgo any fees with respect to sales made to those accounts. The price to the public for all other purchases of the Notes is 100%. (2) JPMorgan Chase Bank, N.A., J.P. Morgan Securities LLC and their affiliates will act as placement agents for the Notes and will receive a fee from us of $10.00 per $1,000 principal amount of Notes, but will forgo any fees for sales to certain fiduciary accounts. The initial estimated value of the Notes determined by us as of the Trade Date, which we refer to as the initial estimated value, is expected to be between $935.00 and $985.00 per $1,000 principal amount of Notes and will be less than the public offering price of the Notes. The final pricing supplement relating to the Notes will set forth the initial estimated value. The market value of the Notes at any time will reflect many factors, cannot be predicted with accuracy and may be less than this amount. We describe the determination of the initial estimated value in more detail below. RBC Capital Markets, LLC JPMorgan Chase Bank, N.A. J.P. Morgan Securities LLC Placement Agents Capped Return Notes Linked to the SPDR ® Gold Trust KEY TERMS The information in this “Key Terms” section is qualified by any more detailed information set forth in this pricing supplement and in the accompanying prospectus, prospectus supplement, underlying supplement and product supplement. Issuer: Royal Bank of Canada Underwriter: RBC Capital Markets, LLC (“RBCCM”) Minimum Investment: $10,000 and minimum denominations of $1,000 in excess thereof Underlier: The SPDR ® Gold Trust Bloomberg Ticker Initial Underlier Value (1) GLD UP $ (1) The closing value of the Underlier on the Trade Date Trade Date: April 10, 2026 Issue Date: April 15, 2026 Valuation Date:* April 23, 2027 Maturity Date:* April 28, 2027 Payment at Maturity: Investors will receive on the Maturity Date per $1,000 principal amount of Notes: · If the Final Underlier Value is greater than or equal to the Initial Underlier Value, an amount equal to: $1,000 + ($1,000 × the lesser of (a) Underlier Return × Part