Form FWP - Filing under Securities Act Rules 163/433 of free writing prospectuses
14 Agosto 2024 - 3:15PM
Edgar (US Regulatory)
Royal Bank of Canada
Market Linked Securities
|
Filed Pursuant to Rule 433
Registration Statement No. 333-275898
![](https://www.sec.gov/Archives/edgar/data/1000275/000095010324012199/image_001.jpg)
|
Market Linked Securities—Auto-Callable with Contingent
Coupon and Contingent Downside
Principal at Risk Securities Linked to the Common
Stock of Blackstone Inc. due September 2, 2027
Term Sheet dated August 14, 2024
|
Summary of Terms
Issuer: |
Royal Bank of Canada |
Market Measures: |
The common stock of Blackstone Inc. (the "Underlying Stock") |
Pricing Date: |
August 28, 2024 |
Issue Date: |
September 3, 2024 |
Final Calculation Day: |
August 30, 2027 |
Stated Maturity Date: |
September 2, 2027 |
Face Amount: |
$1,000 per security |
Contingent Coupon Payment: |
On each contingent coupon payment date, you will receive a contingent coupon payment at a per annum rate equal to the contingent coupon rate if the closing value of the Underlying Stock on the related calculation day is greater than or equal to the coupon threshold value. Each “contingent coupon payment,” if any, will be calculated per security as follows: ($1,000 × contingent coupon rate)/4. |
Contingent Coupon Payment Dates: |
Quarterly, on the third business day following each calculation day, provided that the contingent coupon payment date with respect to the final calculation day will be the stated maturity date |
Contingent Coupon Rate: |
At least 11.20% per annum, to be determined on the pricing date |
Automatic Call: |
If the closing value of the Underlying Stock on any of the calculation days scheduled to occur from February 2025 to May 2027, inclusive, is greater than or equal to the starting value, the securities will be automatically called, and on the related call settlement date you will be entitled to receive a cash payment per security in U.S. dollars equal to the face amount plus a final contingent coupon payment. |
Calculation Days: |
Quarterly, on the 28th day of each February, May, August and November, commencing November 2024 and ending August 2027, provided that the August 2027 calculation day will be the final calculation day |
Call Settlement Date: |
The contingent coupon payment date immediately following the applicable calculation day |
Maturity Payment Amount (per security): |
· if
the ending value is greater than or equal to the downside threshold value: $1,000; or
· if
the ending value is less than the downside threshold value:
$1,000 × performance factor |
Performance Factor: |
The ending value divided by the starting value (expressed as a percentage) |
Starting Value: |
The closing value of the Underlying Stock on the pricing date |
Ending Value: |
The closing value of the Underlying Stock on the final calculation day |
Coupon Threshold Value: |
70% of the starting value |
Downside Threshold Value: |
70% of the starting value |
Calculation Agent: |
RBC Capital Markets, LLC (“RBCCM”), an affiliate of the issuer |
Summary of Terms (continued)
Denominations: |
$1,000 and any integral multiple of $1,000 |
Agent Discount: |
Up to 2.325%; dealers, including those using the trade name Wells Fargo Advisors (“WFA”), may receive a selling concession of up to 1.75% and WFS may pay 0.075% of the agent’s discount to WFA as a distribution expense fee. In addition, selected dealers may receive a fee of up to 0.25% for marketing and other services |
CUSIP: |
78017GJS1 |
Hypothetical Payout Profile (maturity payment amount)
![](https://www.sec.gov/Archives/edgar/data/1000275/000095010324012199/image_002.gif)
If the securities are not automatically called prior to stated maturity
and the ending value is less than the downside threshold value, you will have 1-to-1 exposure to the decrease in the value of the Underlying
Stock from the starting value and will lose at least 30%, and may lose up to 100%, of the face amount of your securities at maturity.
Any return on the securities will be limited to the sum of your
contingent coupon payments, if any. You will not participate in any appreciation of the Underlying Stock, but you will have full downside
exposure to the Underlying Stock if the ending value is less than the downside threshold value.
The issuer’s initial estimated value of the securities as of
the pricing date is expected to be between $905.00 and $955.00 per $1,000 in principal amount, which is less than the public offering
price. The final pricing supplement relating to the securities will set forth the issuer’s estimate of the initial value of the
securities as of the pricing date. The market value of the securities at any time will reflect many factors, cannot be predicted with
accuracy, and may be less than this amount. See “Estimated Value of the Securities” in the accompanying preliminary pricing
supplement for further information.
Preliminary Pricing Supplement:
https://www.sec.gov/Archives/edgar/data/1000275/000095010324012191/dp216668_424b2-wfceln262bx.htm
The securities have complex features and investing in the securities
involves risks not associated with an investment in conventional debt securities. See “Selected Risk Considerations” in this
term sheet and the accompanying preliminary pricing supplement and “Risk Factors” in the accompanying product supplement.
This introductory term sheet
does not provide all of the information that an investor should consider prior to making an investment decision.
Investors should carefully review the accompanying
preliminary pricing supplement, product supplement, prospectus supplement and prospectus before making a decision to invest in the securities.
NOT A BANK DEPOSIT AND NOT INSURED
OR GUARANTEED BY THE FDIC OR ANY OTHER GOVERNMENTAL AGENCY
Selected Risk Considerations
The risks set forth below are discussed in detail in the “Selected
Risk Considerations” section in the accompanying preliminary pricing supplement and the “Risk Factors” section in the
accompanying product supplement. Please review those risk disclosures carefully.
Risks Relating To The Terms And Structure Of The Securities
| · | If The Securities Are Not Automatically Called Prior To Stated Maturity,
You May Lose Some Or All Of The Face Amount Of Your Securities At Stated Maturity. |
| · | The Securities Do Not Provide For Fixed Payments Of Interest And You May
Receive No Contingent Coupon Payments On One Or More Contingent Coupon Payment Dates, Or Even Throughout The Entire Term Of The Securities.
|
| · | You May Be Fully Exposed To The Decline In The Underlying Stock From The
Starting Value, But Will Not Participate In Any Positive Performance Of The Underlying Stock. |
| · | Higher Contingent Coupon Rates Are Associated With Greater Risk. |
| · | You Will Be Subject To Reinvestment Risk. |
| · | A Contingent Coupon Payment Date, A Call Settlement Date And The Stated Maturity
Date May Be Postponed If A Calculation Day Is Postponed. |
| · | The U.S. Federal Income Tax Consequences Of An Investment In The Securities
Are Uncertain. |
Risks Relating To The Estimated Value Of The Securities And Any
Secondary Market
| · | There May Not Be An Active Trading Market For The Securities And Sales In
The Secondary Market May Result In Significant Losses. |
| · | The Initial Estimated Value Of The Securities Will Be Less Than The Original
Offering Price. |
| · | The Initial Estimated Value Of The Securities Is Only An Estimate, Calculated
As Of The Time The Terms Of The Securities Are Set. |
| · | The Value Of The Securities Prior To Stated Maturity Will Be Affected By
Numerous Factors, Some Of Which Are Related In Complex Ways. |
Risks Relating To Conflicts Of Interest
| · | Our Economic Interests And Those Of Any Dealer Participating In The Offering
Are Potentially Adverse To Your Interests. |
Risks Relating To The Underlying Stock
| · | Investing In The Securities Is Not The Same As Investing In The Underlying
Stock. |
| · | Historical Values Of The Underlying Stock Should Not Be Taken As An Indication
Of Its Future Performance During The Term Of The Securities. |
| · | The Securities May Become Linked To The Common Stock Of A Company Other Than
The Original Underlying Stock Issuer. |
| · | We Cannot Control Actions By The Underlying Stock Issuer. |
| · | We And Our Affiliates Have No Affiliation With The Underlying Stock Issuer
And Have Not Independently Verified Its Public Disclosure Of Information. |
| · | You Have Limited Anti-dilution Protection. |
The issuer has filed a registration statement (including a prospectus)
with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration
statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You
may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, any underwriter or any dealer participating
in the offering will arrange to send you the prospectus if you request it by calling your financial advisor or by calling Royal Bank of
Canada toll-free at 1-877-688-2301.
As used in this term sheet, “Royal Bank of Canada,” “we,”
“our” and “us” mean only Royal Bank of Canada. Wells Fargo Advisors is a trade name used by Wells Fargo Clearing
Services, LLC and Wells Fargo Advisors Financial Network, LLC, members SIPC, separate registered broker-dealers and non-bank affiliates
of Wells Fargo & Company.
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