加拿大皇家银行美股招股说明书(2026-07-13版)

The information in this preliminary pricing supplement is not complete and may be changed. This preliminary pricing supplementand the accompanying product supplement, prospectus supplement and prospectus are not an offer to sell these securities and weare not soliciting an offer to buy these securities in any jurisdiction where the offer or sale is not permitted.Subject to Completion, dated July 10, 2026Registration Statement No. 333-275898Filed Pursuant to Rule 424(b)(2) PRICING SUPPLEMENT dated July, 2026(Tothe 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 Leveraged Upside Participation and ContingentDownside Principal at Risk Securities Linked to the Common Stock of NVIDIA Corporation due July 19, 2029 Linked to the common stock of NVIDIA Corporation (the “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 the termsdescribed below. Whether the securities are automatically called prior to stated maturity for a fixed call premium or, ifthey are not automatically called, the maturity payment amount will depend, in each case, on the closing value of theUnderlying Stock on the call date or the calculation day, as applicable.Automatic Call.If the closing value of the Underlying Stock 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 amountplusa call premium of at least 23.35% 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, dependingon the performance of the Underlying Stock from the starting value to the ending value. The maturity payment amountwill reflect the following terms:If the value of the Underlying Stock increases, you will receive the face amountplusa positive return equal to 150% of the percentage increase in the value of the Underlying Stock from the starting value to the ending value.If the value of the Underlying Stock remains flat or decreases but the decrease is not more than 35%, you willreceive the face amount.If the value of the Underlying Stock decreases by more than 35%, you will have full downside exposure to thedecrease in the value of the Underlying Stock from the starting value, and you will lose more than 35%, andpossibly 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 willnot participate in any appreciation of the Underlying Stock,which may be significant.If the securities areautomatically called, you will no longer have the opportunity to participate in any appreciation of the Underlying Stock atthe upside participation rate.All payments on the securities are subject to credit risk, and you will have no ability to pursue the issuer of the Underlying Stock for payment; if Royal Bank of Canada, as issuer, defaults on its obligations, you could lose some or allof your investment.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 initialestimated value, is expected to be between $920.00 and $970.00 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.Thesecurities 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 itsobligations, you could lose some or all of your investment.None of the Securities and Exchange Commission (the “SEC”), any state securities commission or any other regulatory bod