加拿大皇家银行美股招股说明书(2025-04-24版)

Registration Statement No. 333-275898Filed Pursuant to Rule 424(b)(2) Subject to CompletionDated April 24, 2025 $• Notes Linked to the Common Stock of Blackstone Inc. due on or about April 28, 2028$• Notes Linked to the Common Stock of Deere & Company due on or about April 28, 2028 Investment Description The Trigger Autocallable Contingent Yield Notes (with respect to an offering, the “Notes”) are senior unsecured debtsecurities issued by Royal Bank of Canada linked to the performance of a class of equity securities of a specific company(with respect to an offering, the “Underlying”). We will pay a quarterly Contingent Coupon payment if the closing value ofthe Underlying on the applicable Coupon Observation Date is greater than or equal to the Coupon Barrier. Otherwise, nocoupon will be paid for that quarter. We will automatically call the Notes early if the closing value of the Underlying on anyquarterly Call Observation Date (beginning six months after the Trade Date) is greater than or equal to the InitialUnderlying Value. If the Notes are called, we will pay you the principal amount of your Notes plus the Contingent Couponfor the applicable quarter, and no further amounts will be owed to you under the Notes. If the Notes are not called prior tomaturity and the Final Underlying Value is greater than or equal to the Downside Threshold (which is the same value asthe Coupon Barrier), we will pay you a cash payment at maturity equal to the principal amount of your Notes plus theContingent Coupon for the final quarter. However, if the Final Underlying Value is less than the Downside Threshold, wewill pay you less than the full principal amount at maturity, if anything, resulting in a loss of principal amount that is pay you the principal amount of your Notes plus the Contingent Note OfferingsWe are offering two separate Trigger Autocallable Contingent Yield Notes, each linked to a different Underlying. You may participate in one or more of the offerings. Each offering has its own terms, and references in this pricing supplement tothe Notes, the Underlying or any terms of the Notes apply to each individual offering separately. The performance of theNotes in an offering will not depend upon the performance of the Notes in any other offering. The Notes will be issued in ** Rounded to two decimal places. The Downside Threshold and Coupon Barrier for each Underlying will be set on theTrade Date to the same percentage for that Underlying. See “Additional Information about Royal Bank of Canada and the Notes” in this pricing supplement. The Notes will have the terms specified in the prospectus dated December 20, 2023, the prospectus supplement dated December 20, 2023, the product supplement no. 1A dated May 16, 2024 and this pricing supplement. body has approved or disapproved of the Notes or passed upon the adequacy or accuracy of this pricing supplement. Anyrepresentation to the contrary is a criminal offense. The Notes will not constitute deposits insured by the Canada DepositInsurance Corporation, the U.S. Federal Deposit Insurance Corporation or any other Canadian or U.S. governmental RBC Capital Markets, LLC Additional Information about Royal Bank of Canada and the NotesYou may revoke your offer to purchase the Notes at any time prior to the time at which we accept such offer by notifying the applicable agent. We reserve the right to change the terms of, or reject any offer to purchase, the Notes prior to theirissuance. In the event of any changes to the terms of the Notes, we will notify you and you will be asked to accept such You should read this pricing supplement together with the prospectus dated December 20, 2023, as supplemented by theprospectus supplement dated December 20, 2023, relating to our Senior Global Medium-Term Notes, Series J, of whichthe Notes are a part, and the product supplement no. 1A dated May 16, 2024.This pricing supplement, together withthese documents, contains the terms of the Notes and supersedes all other prior or contemporaneous oral We have not authorized anyone to provide any information or to make any representations other than those contained orincorporated by reference in this pricing supplement and the documents listed below. We take no responsibility for, andcan provide no assurance as to the reliability of, any other information that others may give you. These documents are an If the information in this pricing supplement differs from the information contained in the documents listed below, youshould rely on the information in this pricing supplement. You should carefully consider, among other things, the matters set forth in “Key Risks” in this pricing supplement and “RiskFactors” in the documents listed below, as the Notes involve risks not associated with conventional debt securities. Weurge you to consult your investment, legal, tax, accounting and other advisers before you invest in the Notes. You may access these documents on the SEC website at