Form FWP - Filing under Securities Act Rules 163/433 of free writing prospectuses
03 Enero 2025 - 4:24PM
Edgar (US Regulatory)
Registration Statement No. 333-275898
Filed Pursuant to Rule 433
| Market-Linked One Look Notes |
|
| Market-Linked One Look Notes Linked to the VanEck® Gold Miners ETF |
| Issuer |
Royal Bank of Canada (“RBC”). References on this page to “we,” “us” or “our” mean RBC. |
| Principal Amount |
$10.00 per unit |
| Term |
Approximately one year |
| Market Measure |
The VanEck® Gold Miners ETF (Bloomberg symbol: “GDX”) |
| Payout Profile at Maturity |
·
If the Ending Value is greater than or
equal to the Starting Value, a return represented by the Step Up Payment
·
1-to-1 downside exposure to decreases
in the Market Measure, with 100% of your principal at risk |
| Step Up Payment |
[$1.90 to $2.50] per unit, a return of [19.00% to 25.00%] over the principal amount, to be determined on the pricing date |
| Threshold Value |
100% of the Starting Value |
| Preliminary Offering Documents |
https://www.sec.gov/Archives/edgar/data/1000275/000095010325000154/
dp222951_424b2-mlzqu.htm |
| Exchange Listing |
No |
You should read the relevant Preliminary Offering Documents before
you invest. Click on the Preliminary Offering Documents hyperlink above or call your Financial Advisor for a hard copy.
Risk Factors
Please see the Preliminary Offering Documents for a description of
certain risks related to this investment, including, but not limited to, the following:
| · | Depending on the performance of the Market Measure as measured shortly before
the maturity date, your investment may result in a loss; there is no guaranteed return of principal. |
| · | Your return on the notes may be less than the yield you could earn by owning
a conventional fixed or floating rate debt security of comparable maturity. |
| · | Payments on the notes are subject to our credit risk, and actual or perceived
changes in our creditworthiness are expected to affect the value of the notes. |
| · | Your investment return is limited to the return represented by the Step Up
Payment and may be less than a comparable investment directly in shares of the Market Measure or the securities held by the Market Measure. |
| · | The initial estimated value of the notes is only an estimate, determined as
of a particular point in time by reference to our and our affiliates’ pricing models. |
| · | The public offering price you pay for the notes will exceed the initial estimated
value. |
| · | The initial estimated value does not represent a minimum or maximum price
at which we, MLPF&S, BofAS or any of our affiliates would be willing to purchase your notes in any secondary market (if any exists)
at any time. |
| · | A trading market is not expected to develop for the notes. |
| · | Our business, hedging and trading activities, and those of MLPF&S, BofAS
and our respective affiliates (including trades in shares of the Market Measure or the securities held by the Market Measure), and any
hedging and trading activities we, MLPF&S, BofAS or our respective affiliates engage in for our clients’ accounts, may affect
the market value and return of the notes and may create conflicts of interest with you. |
| · | There may be potential conflicts of interest involving the calculation agent,
which is BofAS. |
| · | The sponsor and advisor of the Market Measure may adjust the Market Measure
in a way that could adversely affect the value of the notes and the amount payable on the notes, and these entities have no obligation
to consider your interests. |
| · | You will have no rights of a holder of shares of the Market Measure or the
securities held by the Market Measure, and you will not be entitled to receive securities or dividends or other distributions by the issuers
of those securities. |
| · | While we, MLPF&S, BofAS or our respective affiliates may from time to
time own shares of the Market Measure or the securities held by the Market Measure, we, MLPF&S, BofAS and our respective affiliates
do not control the Market Measure or the issuers of those securities, and have not verified any disclosure made by any other company.
|
| · | There are liquidity and management risks associated with the Market Measure. |
| · | The performance of the Market Measure may not correlate with the performance
of the securities held by the Market Measure as well as the net asset value per share of the Market Measure, especially during periods
of market volatility when the liquidity and the market price of shares of the Market Measure and/or the securities held by the Market
Measure may be adversely affected, sometimes materially. |
| · | The payments on the notes will not be adjusted for all corporate events that
could affect the Market Measure. |
| · | The U.S. federal income tax consequences of an investment in the notes are
uncertain. |
| · | The securities held by the Market Measure are concentrated in one industry. |
| · | An investment in the notes is subject to risks associated with the gold and
silver mining industries. |
| · | The notes will be subject to risks associated with small- or mid-capitalization
companies. |
| · | An investment in the notes is subject to risks associated with foreign securities
markets, including emerging markets. |
| · | The notes are subject to foreign currency exchange rate risk. |
Final terms will be set on the pricing date within the given range
for the specified Market-Linked Investment. Please see the Preliminary Offering Documents for complete product disclosure, including related
risks and tax disclosure.
The graph above and the table below reflect the hypothetical return on the notes, based on the terms contained in the table to the left
(using the mid-point for any range(s)). The graph and the table have been prepared for purposes of illustration only and do not take into
account any tax consequences from investing in the notes.
| Hypothetical Percentage Change from the Starting Value to the Ending Value |
Hypothetical Redemption Amount per Unit |
Hypothetical Total Rate of Return on the Notes |
| -100.00% |
$0.00 |
-100.00% |
| -50.00% |
$5.00 |
-50.00% |
| -20.00% |
$8.00 |
-20.00% |
| -10.00% |
$9.00 |
-10.00% |
| -6.00% |
$9.40 |
-6.00% |
| -3.00% |
$9.70 |
-3.00% |
| 0.00%(1)(3) |
$12.20(2) |
22.00% |
| 3.00% |
$12.20 |
22.00% |
| 5.00% |
$12.20 |
22.00% |
| 10.00% |
$12.20 |
22.00% |
| 20.00% |
$12.20 |
22.00% |
| 22.00% |
$12.20 |
22.00% |
| 50.00% |
$12.20 |
22.00% |
| 100.00% |
$12.20 |
22.00% |
| (1) | This percent change corresponds to the Threshold Value. |
| (2) | This amount represents the sum of the principal amount and the
hypothetical Step Up Payment of $2.20 per unit. Your investment return is limited to the return represented by the Step Up Payment. |
| (3) | The Starting Value of 100 used in these examples has been chosen
for illustrative purposes only and does not represent a likely actual Starting Value for the Market Measure. |
RBC has filed a registration statement
(including a product supplement, a prospectus supplement and a prospectus) with the SEC for the offering to which this document relates.
Before you invest, you should read those documents, and the other documents that RBC has filed with the SEC, for more complete information
about RBC and this offering. You may get these documents without cost by visiting EDGAR on the SEC website at www.sec.gov.
Alternatively, RBC, any agent, or any dealer participating in this offering will arrange to send you these documents if you so request
by calling toll-free 1-800-294-1322.
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