加拿大皇家银行美股招股说明书(2026-07-28版)

Pricing Supplement Linked to the Bloomberg US Large Cap VolMax Index,Due August 1, 2030 Pricing Supplement dated July 27, 2026 to theProspectus dated December 20, 2023, the ProspectusSupplement dated December 20, 2023, the UnderlyingSupplement No. 2B dated April 7, 2026 and the ProductSupplement No. 1B dated July 22, 2025 Royal Bank of Canada Royal Bank of Canada is offering Auto-Callable Fixed Coupon Buffer Notes (the “Notes”) linked to the performance of theBloomberg US Large Cap VolMax Index (the “Underlier”).Fixed Coupons— If the Notes have not been automatically called, investors will receive a Fixed Coupon on each monthly Coupon Payment Date at a rate of 8.10% per annum.Call Feature— If, on any monthly Call Observation Date beginning approximately one year 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 Fixed Coupon otherwise due. No further paymentswill 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 willreceivethe principal amount of their Notes plus the Fixed 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%of the principal amount of their Notes for each 1% that the Final Underlier Value is less than the Initial UnderlierValue in excess of the Buffer Percentage of 15% and will receive the Fixed Coupon otherwise due.Any payments on the Notes are subject to our credit risk.The Notes will not be listed on any securities exchange.CUSIP:78017UY79 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 regulatory body 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. governmentalagency or instrumentality. The Notes are not bail-inable notes and are not subject to conversion into our common sharesunder subsection 39.2(2.3) of the Canada Deposit Insurance Corporation Act.Per NoteTotal Price to public(1)Underwriting discounts and commissions(1)Proceeds to Royal Bank of Canada(1) We or one of our affiliates may pay varying selling concessions of up to $44.00 per $1,000 principal amount of Notes inconnection with the distribution of the Notes to other registered broker-dealers. Certain dealers who purchase the Notesfor 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 $956.00 and $1,000.00 per$1,000 principal amount of Notes. See “Supplemental Plan of Distribution (Conflicts of Interest)” below.The initial estimated value of the Notes determined by us as of the Trade Date, which we refer to as the initial estimated value, is $928.12 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. 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 Issuer:Underwriter:Minimum Investment:Underlier: 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), ineach case, deducted daily. (1)The closing value of the Underlier on the Trade Date (2)85% of the Initial Underlier Value (rounded to two decimal places) Trade Date:Issue Date:Valuation Date:*Maturity Date:*Payment of Fixed Coupons: July 27, 2026 July 30, 2026 August 1, 2030 If the Notes have not been automatically called, investors will receive a Fixed Couponon each Coupon Payment Date. $6.75 per $1,000 principal amount of Notes (c