Form FWP - Filing under Securities Act Rules 163/433 of free writing prospectuses
03 Juli 2024 - 8:22PM
Edgar (US Regulatory)
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![](https://www.sec.gov/Archives/edgar/data/1000275/000095010324009648/image_002.jpg) |
| · | Capped Enhanced Return Potential — If the Final Underlier Value of the Least Performing Underlier is greater than its
Initial Underlier Value, at maturity, the investor will receive a return equal to 200% of the Underlier Return of the Least Performing
Underlier, subject to the Maximum Upside Redemption Amount of at least 160% of the principal amount of the Notes (to be determined on
the Trade Date). |
| · | Absolute Value Return — If the Final Underlier Value of the Least Performing Underlier is less than or equal to its Initial
Underlier Value, but is greater than or equal to its Buffer Value, at maturity, the investor will receive a one-for-one positive return
equal to the absolute value of the Underlier Return. |
| · | Principal at Risk — If the Final Underlier Value of the Least Performing Underlier is less than its Buffer Value, at
maturity, the investor will lose 1% of the principal amount of their Notes for each 1% that the Final Underlier Value of the Least Performing
Underlier is less than its Initial Underlier Value in excess of the Buffer Percentage. |
KEY TERMS |
Issuer: |
Royal Bank of Canada (“RBC”) |
CUSIP: |
78017GCY5 |
Underliers: |
The common stock of Advanced Micro Devices, Inc. (Bloomberg symbol “AMD UW”) and the common stock of NVIDIA Corporation (Bloomberg symbol “NVDA UW”) |
Trade Date: |
July 26, 2024 |
Issue Date: |
July 31, 2024 |
Valuation Date: |
July 27, 2026 |
Maturity Date: |
July 30, 2026 |
Payment at Maturity: |
The investor will receive on the
Maturity Date per $1,000 principal amount of Notes:
· If
the Final Underlier Value of the Least Performing Underlier is greater than its Initial Underlier Value, an amount equal
to the lesser of:
1. $1,000
+ ($1,000 × Underlier Return of the Least Performing Underlier × Participation Rate); and
2. the
Maximum Upside Redemption Amount
· If
the Final Underlier Value of the Least Performing Underlier is less than or equal to its Initial Underlier Value, but is
greater than or equal to its Buffer Value, an amount equal to:
$1,000 + (-1 ×
$1,000 × Underlier Return of the Least Performing Underlier)
In this case, you will receive
a positive return on the Notes equal to the absolute value of the Underlier Return, even though the Underlier Return is negative. In no
event will this return exceed 30%.
· If
the Final Underlier Value of the Least Performing Underlier is less than its Buffer Value, an amount equal to:
$1,000 + [$1,000
× (Underlier Return of the Least Performing Underlier + Buffer Percentage)]
If the Final Underlier Value of the Least Performing
Underlier is less than its Buffer Value, you will lose some or a substantial portion of your principal amount at maturity.
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Participation Rate: |
200% (subject to the Maximum Upside Redemption Amount) |
KEY TERMS (continued) |
Maximum Upside Redemption Amount: |
At least $1,600 (160% of the principal amount), to be determined on the Trade Date |
Buffer Percentage: |
30% |
Buffer Value: |
With respect to each Underlier, 70% of its Initial Underlier Value |
Underlier Return: |
With respect to each Underlier:
Final Underlier Value –
Initial Underlier Value
Initial Underlier Value
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Initial Underlier Value: |
With respect to each Underlier, the closing value of that Underlier on the Trade Date |
Final Underlier Value: |
With respect to each Underlier, the closing value of that Underlier on the Valuation Date |
Least Performing Underlier: |
The Underlier with the lowest Underlier Return |
![](https://www.sec.gov/Archives/edgar/data/1000275/000095010324009648/image_003.gif)
This document provides a summary of the terms of the
Notes. Investors should carefully review the accompanying preliminary pricing supplement, product supplement, prospectus supplement and
prospectus, as well as “Selected Risk Considerations” below, before making a decision to invest in the Notes:
https://www.sec.gov/Archives/edgar/data/1000275/000095010324009631/dp214173_424b2-us1293mul.htm
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 expected to be between $893.00 and $943.00 per $1,000 principal
amount of Notes and will be less than the public offering price of the Notes. We describe the determination of the initial estimated value
in more detail in the accompanying preliminary pricing supplement.
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![](https://www.sec.gov/Archives/edgar/data/1000275/000095010324009648/image_004.jpg) |
Selected
Risk Considerations
An investment in the Notes involves significant risks.
We urge you to consult your investment, legal, tax, accounting and other advisers before you invest in the Notes. Some of the risks that
apply to an investment in the Notes are summarized below, but we urge you to read also the “Selected Risk Considerations”
section of the accompanying preliminary pricing supplement and the “Risk Factors” sections of the accompanying prospectus,
prospectus supplement and product supplement. You should not purchase the Notes unless you understand and can bear the risks of investing
in the Notes.
| · | You May Lose a Substantial Portion of the Principal Amount at Maturity. |
| · | Your Potential Payment at Maturity Is Limited. |
| · | Your Potential for a Positive Return from Depreciation of the Least Performing Underlier Is Limited. |
| · | Any Payment on the Notes Will Be Determined Solely by the Performance of the Least Performing Underlier Even If the Other Underlier
Performs Better. |
| · | The Notes Do Not Pay Interest, and Your Return on the Notes May Be Lower Than the Return on a Conventional Debt Security of Comparable
Maturity. |
| · | Payments on the Notes Are Subject to Our Credit Risk, and Market Perceptions about Our Creditworthiness May Adversely Affect the Market
Value of the Notes. |
| · | Any Payment on the Notes Will Be Determined Based on the Closing Values of the Underliers on the Dates Specified. |
| · | The U.S. Federal Income Tax Consequences of an Investment in the Notes Are Uncertain. |
| · | There May Not Be an Active Trading Market for the Notes; Sales in the Secondary Market May Result in Significant Losses. |
| · | The Initial Estimated Value of the Notes Will Be Less Than the Public Offering Price. |
| · | The Initial Estimated Value of the Notes Is Only an Estimate, Calculated as of the Trade Date. |
| · | Our and Our Affiliates’ Business and Trading Activities May Create Conflicts of Interest. |
| · | RBCCM’s Role as Calculation Agent May Create Conflicts of Interest. |
| · | You Will Not Have Any Rights to Any Underlier. |
| · | Any Payment on the Notes May Be Postponed and Adversely Affected by the Occurrence of a Market Disruption Event. |
| · | Anti-dilution Protection Is Limited, and the Calculation Agent Has Discretion to Make Anti-dilution Adjustments. |
| · | Reorganization or Other Events Could Adversely Affect the Value of the Notes or Result in the Notes Being Accelerated. |
Royal Bank of Canada has filed a registration statement
(including a product supplement, prospectus supplement and 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 we have filed with the SEC for more complete information about
us and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, we, any
agent or any dealer participating in this offering will arrange to send you those documents if you so request by calling toll-free at
1-877-688-2301.
As used in this document, “Royal Bank of Canada,”
“we,” “our” and “us” mean only Royal Bank of Canada. Capitalized terms used in this document without
definition are as defined in the accompanying preliminary pricing supplement.
Registration Statement No. 333-275898; filed pursuant
to Rule 433
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