加拿大皇家银行美股招股说明书(2026-03-03版)

The information in this preliminary pricing supplement is not complete and may be changed. $Auto-Callable Contingent Coupon Barrier NotesLinked to the Common Stock of JPMorgan Chase & Co., Preliminary Pricing SupplementSubject to Completion: Dated March 2, 2026 Pricing Supplement dated March __, 2026 to theProspectus dated December 20, 2023, the ProspectusSupplement dated December 20, 2023 and the Product Royal Bank of Canada Royal Bank of Canada is offering Auto-Callable Contingent Coupon Barrier Notes (the “Notes”) linked to the performanceof the common stock of JPMorgan Chase & Co. (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 10.60% per annum if the closing value of the Underlier isgreater than or equal to the Coupon Threshold (70% of the Initial Underlier Value) on the immediately preceding Call Feature— If, on any monthly Call Observation Date beginning approximately six months following the TradeDate, the closing value of the Underlier is greater than or equal to the Initial Underlier Value, the Notes will beautomatically called for 100% of their principal amountplusthe Contingent Coupon otherwise due. No further 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 The Notes will not be listed on any securities exchange.CUSIP:78015QWR8 Investing 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 and None of the Securities and Exchange Commission (the “SEC”), any state securities commission or any other regulatorybody 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 Price to publicUnderwriting discounts and commissions Proceeds to Royal Bank of Canada (1)We or one of our affiliates may pay varying selling concessions of up to $10.00 per $1,000 principal amount of Notes inconnection 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 The initial estimated value of the Notes determined by us as of the Trade Date, which we refer to as the initial estimatedvalue, is expected to be between $915.00 and $965.00 per $1,000 principal amount of Notes and will be less than thepublic offering price of the Notes. The final pricing supplement relating to the Notes will set forth the initial estimated value. KEY TERMS The information in this “Key Terms” section is qualified by any more detailed information set forth in this pricingsupplement and in the accompanying prospectus, prospectus supplement and product supplement. Issuer:Underwriter: Royal Bank of Canada RBC Capital Markets, LLC (“RBCCM”) $1,000 and minimum denominations of $1,000 in excess thereof (1)The closing value of the Underlier on the Trade Date(2)70% of the Initial Underlier Value (rounded to two decimal places)(3)A number of shares of the Underlier equal to $1,000divided bythe Initial UnderlierValue (rounded to four decimal places) Trade Date:Issue Date:Valuation Date:* of the Underlier is less than the Coupon Threshold on the immediately precedingCoupon Observation Date. Accordingly, you may not receive a Contingent Coupon onone or more Coupon Payment Dates during the term of the Notes. If payable, $8.833 per $1,000 principal amount of Notes (corresponding to a rate of0.8833% per month or 10.60% per annum) Contingent Coupon: If, on any Call Observation Date, the closing value of the Underlier isgreater than orequal tothe Initial Underlier Value, the Notes will be automatically called. Under thesecircumstances, investors will receive on the Call Settlement Date per $1,000 principalamount of Notes an amount equal to $1,000plusthe Contingent Coupon otherwisedue. No further payments will be made on the Notes. Call Feature: If the Notes are not automatically called, investors will receive on the Maturity Date per$1,000 principal amount of Notes, in addition to any Contingent Coupon otherwise due: Payment at Maturity: If the Final Underlier Value isgreater than or equal tothe Barrier Val