加拿大皇家银行美股招股说明书(2025-06-03版)

Royal Bank of Canada is offering Auto-Callable Enhanced Return Barrier Notes (the “Notes”) linked to the performance ofthe Solactive Equal Weight U.S. Blue Chip Select AR Index (the “Underlier”).Call Feature— If, on the Call Observation Date, the closing value of the Underlier is greater than or equal to the Initial Underlier Value, the Notes will be automatically called for a return of 20.75%. No further payments will be 1% of the principal amount of their Notes for each 1% that the Final Underlier Value is less than the InitialUnderlier Value.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:78017K4S8Investing in the Notes involves a number of risks. See “Selected Risk Considerations” beginning on page P-7 ofthis pricing supplement and “Risk Factors” in the accompanying prospectus, prospectus supplement, indexsupplement and product supplement. Underwriting discounts and commissionsProceeds to Royal Bank of Canada We or one of our affiliates may pay varying selling concessions of up to $36.25 per $1,000 principal amount of Notes inconnection with the distribution of the Notes to other registered broker-dealers. Certain dealers who purchase the Notes The public offering price for investors purchasing the Notes in these accounts may be between $963.75 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 $5.00 per $1,000 principal amount of Notes. See “Supplemental Plan of Distribution (Conflicts of KEY TERMS amount equal to $1,207.50 (120.75% of the principal amount). No further payments will bemade on the Notes.If the Notes are not automatically called, investors will receive on the Maturity Date per $1,000principal amount of Notes: If the Notes are not automatically called and the Final Underlier Value is less than the BarrierValue, you will lose a substantial portion or all of your principal amount at maturity. Allpayments on the Notes are subject to our credit risk. Final Underlier Value – Initial Underlier Value RBC Capital Markets, LLC ADDITIONAL TERMS OF YOUR NOTES 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 which 2024. This pricing supplement, together with these documents, contains the terms of the Notes and supersedes all otherprior or contemporaneous oral statements as well as any other written materials, including preliminary or indicative pricingterms, correspondence, trade ideas, structures for implementation, sample structures, fact sheets, brochures or other incorporated 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 anoffer to sell only the Notes offered hereby, but only under circumstances and in jurisdictions where it is lawful to do so. The information contained in each such document is current only as of its date.If the information in this pricing supplement differs from the information contained in the documents listed below, you should rely on the information in this pricing supplement.You should carefully consider, among other things, the matters set forth in “Selected Risk Considerations” in this pricing debt 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 changed, byreviewing our filings for the relevant date on the SEC website): https://www.sec.gov/Archives/edgar/data/1000275/000119312523299520/d645671d424b3.htmProspectus Supplement dated December 20, 2023: Index Supplement SOL-1 dated June 6, 2024: https://www.sec.gov/Archives/edgar/data/1000275/000095010324006777/dp211286_424b2-ps1a.htmOur Central Index Key, or CIK, on the SEC website is 1000275. As used in this pricing supplement, “Royal Bank ofCanada,” the “Bank,” “we,” “our” and “us” mean only Royal Bank of Canada.RBC Capital Markets, LLC -30.01%$699.90-40.00%$600.00 $500.00$400.00$300.00 $200.00$100.00 The value of the Underlier increases from the Initial Underlier Value to the Final Underlier Value $1,000 + ($1,000 × 2% × 150%) = $1,000 + $30 = $1,030In this example, the payment at maturity is $1,030 per $1,000 principal amount of Notes, for a return ofBecause the Final Underlier Value is greater than the Initial Underlier Value, investors receive a returnRBC Capital Markets, LLC The value of the Underlier decreases from the Initial Underlier Value to the Final Underlier Valueby 10% (i.e., the Final Underlier Value is below the Initial Underlier Value but above the