加拿大皇家银行美股招股说明书(2026-06-26版)

Pricing Supplement $5,007,000Auto-Callable Contingent Coupon Buffer Notes Linked to the Bloomberg US Large Cap VolMaxIndex,Due June 30, 2031 Pricing Supplement dated June 25, 2026 to the Prospectusdated December 20, 2023, the Prospectus Supplementdated December 20, 2023, the Underlying Supplement No.2B dated April 7, 2026 and the Product Supplement No. 1B Royal Bank of Canada Royal Bank of Canada is offering Auto-Callable Contingent Coupon Buffer Notes (the “Notes”) linked to the performanceof the Bloomberg US Large Cap VolMax Index (the “Underlier”).Contingent Coupons— If the Notes have not been automatically called, investors will receive a Contingent Coupon on a quarterly Coupon Payment Date at a rate of 17.00% per annum if the closing value of the Underlieris greater than or equal to the Coupon Threshold (75% of the Initial Underlier Value) on the immediately precedingCoupon Observation Date. You may not receive any Contingent Coupons during the term of the Notes. Call Feature— If, on any quarterly 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 furtherpayments will be made on the Notes. Contingent Return of Principal at Maturity— If the Notes are not automatically called and the Final UnderlierValue is greater than or equal to the Buffer Value (85% of the Initial Underlier Value), at maturity, investors willreceive the principal amount of their Notesplusthe Contingent Coupon otherwise due. If the Notes are notautomatically called and the Final Underlier Value is less than the Buffer Value, at maturity, investors will lose 1% The Notes will not be listed on any securities exchange.CUSIP:78017U3C2 Investing in the Notes involves a number of risks. See “Selected Risk Considerations” beginning on page P-7 of this pricing supplement and “Risk Factors” in the accompanying prospectus, prospectus supplement, underlyingsupplement and product supplement. 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 public(1)Underwriting discounts and commissionsProceeds to Royal Bank of Canada(1)We or one of our affiliates may pay varying selling concessions of up to $32.50 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 Notes for 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 $967.50 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 $10.00 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 estimatedvalue, is $939.27 per $1,000 principal amount of Notes and is less than the public offering price of the Notes. The marketvalue of the Notes at any time will reflect many factors, cannot be predicted with accuracy and may be less than thisamount. We describe the determination of the initial estimated value in more detail below. Auto-Callable Contingent Coupon BufferNotes Linked to the Bloomberg USLarge Cap VolMax Index KEY TERMS The information in this “Key Terms” section is qualified by any more detailed information set forth in this pricingsupplementand in the accompanying prospectus,prospectus supplement,underlying supplement and productsupplement. Royal Bank of Canada RBC Capital Markets, LLC (“RBCCM”) $1,000 and minimum denominations of $1,000 in excess thereof The Bloomberg US Large Cap VolMax Index. The Underlier is subject to a notionalfinancing cost, a 6% per annum deduction factor and a transaction cost of 0.01%applied to the daily change in exposure to the Underlying Index (as defined below), in Trade Date:Issue Date:Valuation Date:*Maturity Date:* No Contingent Coupon will be payable on a Coupon Payment Date if the closing valueof the Underlier is less than the Coupon Threshold on the immediately precedingCoupon Observation Date. Accordingly, you may not receive a Contingent Coupon on If payable, $42.50 per $1,000 principal amount of Notes (corresponding to a rate of4.25% per qu