加拿大皇家银行美股招股说明书(2026-07-06版)

The information in this preliminary pricing supplement is not complete and may be changed. This preliminary pricingsupplement and the accompanying product supplement, prospectus supplement and prospectus are not an offer to sell thesesecurities and we are not soliciting an offer to buy these securities in any jurisdiction where the offer or sale is not permitted.Subject to Completion, dated July 6, 2026PRICING SUPPLEMENT dated July, 2026Registration Statement No. 333-275898Filed Pursuant to Rule 424(b)(2) (To the Product Supplement No. WF1 dated December 20, 2023 and theProspectus Supplement and the Prospectus, each dated December 20, 2023) Royal Bank of CanadaSenior Global Medium-Term Notes, Series J Market Linked Securities—Auto-Callable with Contingent Coupon with Memory Feature and Contingent DownsidePrincipal at Risk Securities Linked to the Lowest Performing of the Class A Common Stock of Alphabet Inc., the Common Stock of JPMorgan Chase & Co. and the Common Stock of NVIDIA Corporation due July 20, 2028Linked to the lowest performing of the Class A common stock of Alphabet Inc., the common stock of JPMorgan Chase & Co. and the common stock of NVIDIA Corporation (each referred to as an “Underlying Stock”)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 theterms described below. Whether the securities pay a contingent coupon, whether the securities are automaticallycalled prior to stated maturity and, if they are not automatically called, whether you receive the face amount of yoursecurities at stated maturity will depend, in each case, on the closing value of the lowest performing Underlying Stockon the relevant calculation day. The lowest performing Underlying Stock on any calculation day is the UnderlyingStock that has the lowest performance factor on that calculation day, calculated for each Underlying Stock as theclosing value of that Underlying Stock on that calculation daydivided byits starting value.Contingent Coupon.The securities will pay a contingent coupon on a quarterly basis until the earlier of stated maturity or automatic call if the closing value of the lowest performing Underlying Stock on the calculation day for therelevant quarter is greater than or equal to its coupon threshold value. If the closing value of the lowest performingUnderlying Stock on a calculation day is less than its coupon threshold value, you will not receive any contingentcoupon for the relevant quarter. However, if the closing value of the lowest performing Underlying Stock on one ormore calculation days is less than its coupon threshold value and, on a subsequent calculation day, the closing valueof the lowest performing Underlying Stock on that subsequent calculation day is greater than or equal to its couponthreshold value, the securities will pay the contingent coupon payment due for that subsequent calculation dayplusall previously unpaid contingent coupon payments (without interest on amounts previously unpaid). If the closingvalue of the lowest performing Underlying Stock on a calculation day is less than its coupon threshold value and theclosing value of the lowest performing Underlying Stock on each subsequent calculation day up to and including thefinal calculation day is less than its coupon threshold value, you will not receive the previously unpaid contingentcoupon payments in respect of those calculation days. Accordingly, if the closing value of the lowest performingUnderlying Stock is less than its coupon threshold value on every calculation day, you will not receive any contingentcoupons throughout the entire term of the securities. The coupon threshold value for each Underlying Stock is equalto 50% of its starting value. The contingent coupon rate will be determined on the pricing date and will be at least12.40% per annum.Automatic Call.If the closing value of the lowest performing Underlying Stock on any of the quarterly calculation days scheduled to occur from October 2026 to April 2028, inclusive, is greater than or equal to its starting value, thesecurities will be automatically called for the face amountplusa final contingent coupon payment and any previouslyunpaid contingent coupon payments.Potential Loss of Principal.If the securities are not automatically called prior to stated maturity, you will receive the face amount at stated maturity if the closing value of the lowest performing Underlying Stock on the final calculationday is greater than or equal to its downside threshold value. If the closing value of the lowest performing UnderlyingStock on the final calculation day is less than its downside threshold value, you will lose more than 50%, and possiblyall, of the face amount of your securities. The downside threshold valuefor each Underlying Stockis equal to 50%of its starting value.If the