加拿大皇家银行美股招股说明书(2026-04-22版)

accompanying product supplement, underlying supplement, prospectus supplement and prospectus are not an offer to sell these securitiesand we are not soliciting an offer to buy these securities in any jurisdiction where the offer or sale is not permitted.Registration Statement No. 333- 275898Filed Pursuant to Rule 424(b)(2) Subject to Completion, dated April 22, 2026 PRICING SUPPLEMENT dated April, 2026(To the Product Supplement No. WF1 dated December 20, 2023, the Underlying SupplementNo. 1A dated May 16, 2024 and the Prospectus Supplement and the Prospectus, each datedDecember 20, 2023) Royal Bank of CanadaSenior Global Medium-Term Notes, Series J Market Linked Securities—Auto-Callable with Leveraged Upside Participation and ContingentDownsidePrincipal at Risk Securities Linked to the EURO STOXX 50® Index due May 3, 2029Linked to the EURO STOXX 50® Index (the “Index”)Unlike ordinary debt securities, the securities do not provide for fixed payments of interest, do not repay a fixed amount of principal at stated maturity and are subject to potential automatic call prior to stated maturity upon the terms described below.Whether the securities are automatically called prior to stated maturity for a fixed call premium or, if they are not automaticallycalled, the maturity payment amount will depend, in each case, on the closing value of the Index on the call date or thecalculation day, as applicable.Automatic Call.If the closing value of the Index on the call date occurring approximately one year after issuance is greater than or equal to the starting value, the securities will be automatically called for the face amount plus a call premium of at least 13.00%of the face amount (to be determined on the pricing date).Maturity Payment Amount.If the securities are not automatically called prior to stated maturity, you will receive a maturity payment amount that could be greater than, equal to or less than the face amount of the securities, depending on theperformance of the Index from the starting value to the ending value. The maturity payment amount will reflect the followingterms:If the value of the Index increases, you will receive the face amount plus a positive return equal to 150% of the percentage increase in the value of the Index from the starting value to the ending value.If the value of the Index remains flat or decreases but the decrease is not more than 25%, you will receive the face amount.If the value of the Index decreases by more than 25%, you will have full downside exposure to the decrease in the value ofthe Index from the starting value, and you will lose more than 25%, and possibly all, of the face amount of your securities.Investors may lose a significant portion, or all, of the face amount. If the securities are automatically called, the positive return on the securities will be limited to the call premium, and you will notparticipate in any appreciation of the Index, which may be significant. If the securities are automatically called, you will no longerhave the opportunity to participate in any appreciation of the Index at the upside participation rate.All payments on the securities are subject to credit risk, and you will have no ability to pursue the issuer of any securities included in the Index for payment; if Royal Bank of Canada, as issuer, defaults on its obligations, you could lose some or all of yourinvestment.No periodic interest payments or dividendsNo exchange listing; designed to be held to maturity or automatic call The initial estimated value of the securities determined by us as of the pricing date, which we refer to as the initial estimatedvalue, is expected to be between $915.00 and $965.00 per security and will be less than the original offering price of thesecurities. The final pricing supplement relating to the securities will set forth the initial estimated value. The market valueof the securities at any time will reflect many factors, cannot be predicted with accuracy and may be less than this amount.We describe the determination of the initial estimated value in more detail below.The securities have complex features and investing in the securities involves risks not associated with an investment in conventional debt securities. See “Selected Risk Considerations” beginning on page PS-8 herein and “Risk Factors”beginning on page PS-5 of the accompanying product supplement.The securities are the unsecured obligations of Royal Bank of Canada, and, accordingly, all payments on the securities are subject to the credit risk Royal Bank of Canada. If Royal Bank of Canada, as issuer, defaults on its obligations, you couldlose some or all of your investment.None of the Securities and Exchange Commission (the “SEC”), any state securities commission or any other regulatory body has approved or disapproved of the securities or passed upon the adequacy or accuracy of this pricing supplement.Any representation to the contrary is a criminal offense. The s