Form FWP - Filing under Securities Act Rules 163/433 of free writing prospectuses
18 Junio 2024 - 3:05PM
Edgar (US Regulatory)
Royal
Bank of Canada
Market
Linked Securities
|
Filed
Pursuant to Rule 433
Registration
Statement No. 333-275898
|
Market
Linked Securities—Auto-Callable with Contingent Coupon and Contingent Downside
Principal
at Risk Securities Linked to the Lowest Performing of the VanEck® Gold Miners ETF, the VanEck®
Semiconductor ETF and the SPDR® S&P® Oil & Gas Exploration & Production ETF
due July 2, 2026
Term
Sheet dated June 18, 2024 |
Summary
of Terms
Issuer: |
Royal Bank of Canada |
Market Measures: |
The VanEck® Gold Miners ETF (the “GDX Fund”), the VanEck® Semiconductor ETF (the “SMH Fund”) and the SPDR® S&P® Oil & Gas Exploration & Production ETF (the “XOP Fund”) (each an “Fund,” and collectively “Funds”) |
Pricing Date: |
June 28, 2024 |
Issue Date: |
July 3, 2024 |
Final Calculation Day: |
June 29, 2026 |
Stated Maturity Date: |
July 2, 2026 |
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 lowest performing Fund on the related calculation day is greater than or equal to its coupon threshold value. Each “contingent coupon payment,” if any, will be calculated per security as follows: ($1,000 × contingent coupon rate)/12. |
Contingent Coupon Payment Dates: |
Monthly, 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 15.60% per annum, to be determined on the pricing date |
Automatic Call: |
If the closing value of the lowest performing Fund on any of the calculation days scheduled to occur from December 2024 to May 2026, inclusive, is greater than or equal to its 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: |
Monthly, on the 28th day of each month, commencing July 2024 and ending June 2026, provided that the June 2026 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 of the lowest performing Fund on the final calculation day is greater than or equal to its downside threshold value:
$1,000; or
·
if the ending value of the lowest performing Fund on the final calculation day is less than its downside threshold value:
$1,000 × performance factor of the lowest
performing Fund on the final calculation day |
Lowest Performing Fund: |
For any calculation day, the Fund with the lowest performance factor on that calculation day |
Performance Factor: |
With respect to a Fund on any calculation day, its closing value on such calculation day divided by its starting value (expressed as a percentage). |
Starting Value: |
For each Fund, its closing value on the pricing date |
Ending Value: |
For each Fund, its closing value on the final calculation day |
Coupon Threshold Value: |
For each Fund, 70% of its starting value |
Summary
of Terms (continued)
Downside Threshold Value: |
For each Fund, 70% of its starting value |
Calculation Agent: |
RBC Capital Markets, LLC (“RBCCM”), an affiliate of the issuer |
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 0.20% for marketing and other services |
CUSIP: |
78017G6V8 |
Hypothetical Payout Profile (maturity payment amount)
If the securities are not automatically called prior to stated maturity
and the ending value of the lowest performing Fund on the final calculation day is less than its downside threshold value, you will lose
more than 30%, and possibly all, of the face amount of your securities at stated 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 any Fund, but you will have full downside exposure
to the lowest performing Fund on the final calculation day if the ending value of that Fund 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 $900.00 and $947.18 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/1000275/000095010324008441/dp212855_424b2-wfceln255.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. |
| · | The Securities Are Subject To The Full Risks
Of Each Fund And Will Be Negatively Affected If Any Fund Performs Poorly, Even If The Other Funds Perform Favorably. |
| · | Your Return On The Securities Will Depend Solely
On The Performance Of The Fund That Is The Lowest Performing Fund On Each Calculation Day, And You Will Not Benefit In Any Way From The
Performance Of The Better Performing Funds. |
| · | You Will Be Subject To Risks Resulting From The Relationship Among The Funds.
|
| · | You May Be Fully Exposed To The Decline In The
Lowest Performing Fund On The Final Calculation Day From Its Starting Value, But Will Not Participate In Any Positive Performance Of Any
Fund. |
| · | 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. |
| · | Payments On The Securities Are Subject To Our Credit Risk, And Market Perceptions
About Our Creditworthiness May Adversely Affect The Market Value Of The Securities. |
| · | 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 Funds
| · | The Equity Securities Composing The GDX Fund Are Concentrated In The Gold
And Silver Mining Industries. |
| · | The Equity Securities Composing The SMH Fund Are Concentrated In The Semiconductor
Industry. |
| · | The Equity Securities Composing The XOP Fund Are Concentrated In The Oil
And Gas Industry. |
| · | The Securities Are Subject To Risks Relating To Non-U.S. Securities Markets
With Respect To The GDX Fund. |
| · | The Securities Are Subject To Risks Relating To Non-U.S. Securities With
Respect To The SMH Fund. |
| · | The Value Of The GDX Fund Is Subject To Currency Exchange Risk. |
| · | Investing In The Securities Is Not The Same As Investing In The Funds Or
The Securities Held By The Funds. |
| · | Historical Values Of A Fund Should Not Be Taken As An Indication Of The Future
Performance Of That Fund During The Term Of The Securities. |
| · | Changes That Affect A Fund Or Its Fund Underlying Index May Adversely Affect
The Value Of The Securities And Any Payment On The Securities. |
| · | We And Our Affiliates Have No Affiliation With Any Fund Sponsor Or Fund Underlying
Index Sponsor And Have Not Independently Verified Their Public Disclosure Of Information. |
| · | An Investment Linked To The Shares Of A Fund Is Different From An Investment
Linked To Its Fund Underlying Index. |
| · | There Are Risks Associated With A Fund. |
| · | Anti-dilution Adjustments Relating To The Shares Of A Fund Do Not Address
Every Event That Could Affect Such Shares. |
| · | We Cannot Control Actions By Any Of The Unaffiliated Companies Whose Securities
Are Held By A Fund Or Included In Its Fund Underlying Index. |
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.
Royal Bank (PK) (USOTC:RYLBF)
Gráfica de Acción Histórica
De Ago 2024 a Sep 2024
Royal Bank (PK) (USOTC:RYLBF)
Gráfica de Acción Histórica
De Sep 2023 a Sep 2024