加拿大皇家银行美股招股说明书(2026-04-08版)

The information in this preliminary pricing supplement is not complete and may be changed. Preliminary Pricing Supplement Redeemable Floored Range Accrual Notes Based onthe 10-Year CMT Rate, Subject to Completion: Dated April 7, 2026 Pricing Supplement dated April __, 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 the Redeemable Floored Range Accrual Notes Based on the 10-year CMT rate (the“Notes”) described below. The Notes will accrue interest, payable quarterly, at a rate equal to 6.50% per annum, but only on each calendarday for which the Reference Rate is (a) greater than or equal to the Lower Barrier of 0.00% per annum and (b)less than or equal to the Upper Barrier of 5.00% per annum,providedthat the Interest Rate will not be less thanthe Coupon Floor of 1.00% per annum. CUSIP:78014RU99 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 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 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 Proceeds to Royal Bank of Canada RBC Capital Markets, LLC will purchase the Notes from us on the Issue Date at purchase prices between $965.00 and$1,000.00 per $1,000 principal amount of Notes, and will pay all or a portion of its underwriting discount of up to $35.00per $1,000 principal amount of Notes to certain selected broker-dealers as a selling concession. Certain dealers whopurchase the Notes for sale to certain fee-based advisory accounts and/or eligible institutional investors may forgo someor all of their selling concessions, fees or commissions. The public offering price for investors purchasing the Notes inthese accounts and/or for an eligible institutional investor may be as low as $965.00 per $1,000 principal amount of Notes. The initial estimated value of the Notes determined by us as of the Pricing Date, which we refer to as the initial estimatedvalue, is expected to be between $925.00 and $975.00 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. 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 whichthe Notes are a part, and the product supplement no. 1B dated July 22, 2025. This pricing supplement, together with thesedocuments, contains the terms of the Notes and supersedes all other prior or contemporaneous oral statements as well as 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 “Selected Risk Considerations” in this pricingsupplement 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 changed, byreviewing our filings for the relevant date on the SEC website): Prospectus dated December 20, 2023:https://www.sec.gov/Archives/edgar/data/1000275/000119312523299520/d645671d424b3.htm Prospectus Supplement dated December 20, 2023:https://www.sec.gov/Archives/edgar/data/1000275/000119312523299523/d638227d424b3.htm Product Supplement No. 1B dated July 22, 2025:https://www.sec.gov/Archives/edgar/data/1000275/000095010325009131/dp231901_424b2-opsn1b.htm Our 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. Supplemental Terms of the Notes Determination of the 10-Year CMT Rate The