加拿大皇家银行美股招股说明书(2026-07-10版)

The information in this preliminary pricing supplement is not complete and may be changed. This preliminary pricing supplement and theaccompanying product supplement, underlying supplement, prospectus supplement and prospectus are not an offer to sell these securities andwe 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 9, 2026PRICING SUPPLEMENT dated July, 2026(Tothe Product Supplement No.WF1 dated December 20,2023,theUnderlyingSupplement No.1A dated May 16,2024 and the ProspectusSupplement and the Prospectus, each dated December 20, 2023)Registration Statement No. 333-275898Filed Pursuant to Rule 424(b)(2) Royal Bank of Canada Senior Global Medium-Term Notes, Series J Market Linked Securities—Auto-Callable with Contingent Coupon and Contingent DownsidePrincipal at Risk Securities Linked to the Lowest Performing of the Russell 2000®Index, the S&P 500®Index andthe EURO STOXX 50®Index due August 2, 2030 Linked to the lowest performing of the Russell 2000®Index, the S&P 500®Index and the EURO STOXX 50®Index(each referred to as an “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 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 Index on therelevant calculation day. The lowest performing Index on any calculation day is the Index that has the lowestperformance factor on that calculation day, calculated for each Index as the closing value of that Index on thatcalculation 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 Index on the calculation day for the relevantquarter is greater than or equal to its coupon threshold value. However, if the closing value of the lowest performingIndex on a calculation day is less than its coupon threshold value, you will not receive any contingent coupon for therelevant quarter. If the closing value of the lowest performing Index is less than its coupon threshold value on everycalculation day, you will not receive any contingent coupons throughout the entire term of the securities. The couponthreshold value for each Index is equal to 75% of its starting value. The contingent coupon rate will be determined onthe pricing date and will be at least 10.50% per annum.Automatic Call.If the closing value of the lowest performing Index on any of the quarterly calculation days scheduled to occur from January 2027 to April 2030, inclusive, is greater than or equal to its starting value, the securities will beautomatically called for the face amountplusa final contingent coupon payment.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 Index on the final calculation day isgreater than or equal to its downside threshold value. If the closing value of the lowest performing Index on the finalcalculation day is less than its downside threshold value, you will lose more than 25%, and possibly all, of the faceamount of your securities. The downside threshold valuefor each Indexis equal to 75% of its starting value.If the securities are not automatically called prior to stated maturity, you will have full downside exposure to the lowest performing Index on the final calculation day from its starting value if its closing value on the final calculation day isless than its downside threshold value, but you will not participate in any appreciation of any Index and will notreceive any dividends on the securities included in any Index.Investors may lose a significant portion, or all, of the face amount. The initial estimated value of the securities determined by us as of the pricing date, which we refer to as the initialestimated value, is expected to be between $907.50 and $957.50 per security and will be less than the originaloffering price of the securities. The final pricing supplement relating to the securities will set forth the initialestimated value. The market value of the securities at any time will reflect many factors, cannot be predicted withaccuracy and may be less than this amount. We describe the determination of the initial estimated value in moredetail below.The securities have complex features and investing in the securities involves risks not associated with an investment in conventional debt s