加拿大皇家银行美股招股说明书(2025-01-27版)

The information in this preliminary pricing supplement is not complete and may be changed. Preliminary Pricing SupplementSubject to Completion: Dated January 27,2025 $Auto-Callable Contingent Coupon Barrier NotesLinked to the Class A Common Stock of Block,Inc.,Due February 11, 2027 Pricing Supplement dated February __, 2025 tothe Prospectus dated December 20, 2023, theProspectus Supplement dated December 20,2023 and the Product Supplement No. 1A datedMay 16, 2024 Royal Bank of Canada Royal Bank of Canada is offering Auto-Callable Contingent Coupon Barrier Notes (the “Notes”) linked tothe performance of the Class A common stock of Block, Inc. (the “Underlier”).Contingent Coupons— If the Notes have not been automatically called, investors will receive a ·Contingent Coupon on a monthly Coupon Payment Date at a rate of 16.00% per annum if theclosing value of the Underlier is greater than or equal to the Coupon Threshold (60% of the InitialUnderlier Value) on the immediately preceding Coupon Observation Date. You may not receiveany Contingent Coupons during the term of the Notes.Call Feature— If, on any monthly Call Observation Date beginning approximately six months ·following the Trade Date, the closing value of the Underlier is greater than or equal to the CallValue,the Notes will be automatically called for 100%of their principal amount plus theContingent Coupon otherwise due. No further payments will be made on the Notes.·Contingent Return of Principal at Maturity— If the Notes are not automatically called and theFinal Underlier Value is greater than or equal to the Barrier Value (60% of the Initial UnderlierValue), at maturity, investors will receive the principal amount of their Notesplusthe ContingentCoupon otherwise due. If the Notes are not automatically called and the Final Underlier Value isless than the Barrier Value, at maturity, investors will lose 1% of the principal amount of theirNotes for each 1% that the Final Underlier Value is less than the Initial Underlier Value.·Any payments on the Notes are subject to our credit risk.·The Notes will not be listed on any securities exchange. CUSIP:78017KMQ2Investing in the Notes involves a number of risks. See “Selected Risk Considerations” beginning on page P-7 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 oraccuracy of this pricing supplement. Any representation to the contrary is a criminal offense. The Noteswill not constitute deposits insured by the Canada Deposit Insurance Corporation, the U.S. FederalDeposit 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 undersubsection 39.2(2.3) of the Canada Deposit Insurance Corporation Act. (1)We or one of our affiliates may pay varying selling concessions of up to $10.00 per $1,000 principalamount of Notes in connection with the distribution of the Notes to other registered broker-dealers.Certain dealers who purchase the Notes for sale to certain fee-based advisory accounts may forgo someorall of their underwriting discount or selling concessions.The public offering price for investorspurchasing the Notes in these accounts may be between $990.00 and $1,000.00 per $1,000 principalamount of Notes. In addition, we or one of our affiliates may pay a broker-dealer that is not affiliated withus a referral fee of up to $10.00 per $1,000 principal amount of Notes. See “Supplemental Plan ofDistribution (Conflicts of Interest)” below.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 $922.50 and $972.50 per $1,000 principal amount ofNotes and will be less than the public offering price of the Notes. The final pricing supplement relating tothe Notes will set forth the initial estimated value. The market value of the Notes at any time will reflectmany factors, cannot be predicted with accuracy and may be less than this amount. We describe thedetermination of the initial estimated value in more detail below. RBC Capital Markets, LLC Auto-Callable Contingent CouponBarrier Notes Linked to the ClassA Common Stock of Block, Inc. KEY TERMS The information in this “Key Terms” section is qualified by any more detailed information set forth in thispricingsupplement and in the accompanying prospectus,prospectus supplement and productsupplement. Royal Bank of CanadaRBC Capital Markets, LLC (“RBCCM”)$1,000 and minimum denominations of $1,000 in excess thereofThe Class A common stock of Block, Inc. Issuer:Underwriter:Minimum Investment:Underlier: (1)The closing value of the Underlier on the Trade Date(2)60% of the In