加拿大皇家银行美股招股说明书(2025-06-02版)

The information in this preliminary pricing supplement is not complete and may be changed. Preliminary Pricing Supplement dated December 20, 2023, the Prospectus Supplementdated December 20, 2023, the Index Supplement SOL-1 Royal Bank of Canada is offering Auto-Callable Contingent Coupon Barrier Notes (the “Notes”) linked to the performanceof the Solactive Equal Weight U.S. Semi Conductor Select AR Index (the “Underlier”).Contingent Coupons— If the Notes have not been automatically called, investors will receive a ContingentCoupon on a monthly Coupon Payment Date at a rate of at least 12.25% per annum (to be determined on theTrade Date) if the closing value of the Underlier is greater than or equal to the Coupon Threshold (70% of theInitial Underlier Value) on the immediately preceding Coupon Observation Date. You may not receive anyContingent Coupons during the term of the Notes.Call Feature— If, on any quarterly Call Observation Date beginning approximately one year following the Trade Contingent Return of Principal at Maturity— If the Notes are not automatically called and the Final UnderlierValue is greater than or equal to the Barrier Value (70% of the Initial Underlier Value), at maturity, investors willreceive the principal amount of their Notesplusthe Contingent Coupon otherwise due. If the Notes are not automatically called and the Final Underlier Value is less than the Barrier 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 UnderlierValue. CUSIP:78017K3L4Investing in the Notes involves a number of risks. See “Selected Risk Considerations” beginning on page P-8 ofthis pricing supplement and “Risk Factors” in the accompanying prospectus, prospectus supplement, indexsupplement and product supplement. representation 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. governmentalagency or instrumentality. The Notes are not bail-inable notes and are not subject to conversion into our common sharesunder subsection 39.2(2.3) of the Canada Deposit Insurance Corporation Act.Per Note(1)100.00% Price to publicUnderwriting discounts and commissions(1) Proceeds to Royal Bank of Canada We or one of our affiliates may pay varying selling concessions of up to $10.00 per $1,000 principal amount of Notes in connection with the distribution of the Notes to other registered broker-dealers. Certain dealers who purchase the Notesfor sale to certain fee-based advisory accounts may forgo some or all of their underwriting discount or selling concessions. The public offering price for investors purchasing the Notes in these accounts may be between $990.00 and $1,000.00 per$1,000 principal amount 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 $16.25 per $1,000 principal amount of Notes. See “Supplemental Plan of Distribution (Conflicts ofInterest)” below.The initial estimated value of the Notes determined by us as of the Trade Date, which we refer to as the initial estimated Royal Bank of CanadaUnderwriter:RBC Capital Markets, LLC (“RBCCM”)Minimum Investment:$1,000 and minimum denominations of $1,000 in excess thereofUnderlier:The Solactive Equal Weight U.S. Semi Conductor Select AR Index. The Underlier reflectsthe deduction of an adjustment factor of 2.0% per annum (the “Adjustment Factor”), Bloomberg TickerInitial Underlier Value(1)Barrier ValueSOUSESCA(1)The closing value of the Underlier on the Trade Date(2)70% of the Initial Underlier Value (rounded to two decimal places) If the Notes have not been automatically called, investors will receive a Contingent If, on any Call Observation Date, the closing value of the Underlier isgreater than or circumstances, investors will receive on the Call Settlement Date per $1,000 principalamount of Notes an amount equal to $1,000plusthe Contingent Coupon otherwise due.No further payments will be made on the Notes. $1,000 principal amount of Notes, in addition to any Contingent Coupon otherwise due:·If the Final Underlier Value isgreater than or equal tothe Barrier Value: $1,000·If the Final Underlier Value isless thanthe Barrier Value, an amount equal to: $1,000 + ($1,000 × Underlier Return)If the Notes are not automatically called and the Final Underlier Value is less than theBarrier Value, you will lose a substantial portion or all of your principal amount at RBC Capital Markets, LLC supplement and “Risk Factors” in the documents listed below, as the Notes involve risks not associated with conventionaldebt securities. We urge you to consult your investment, legal, tax, accounting and other advisers before you invest in the You may access these documents on the SEC website at www.sec.gov as follows (or if such address has change