Form FWP - Filing under Securities Act Rules 163/433 of free writing prospectuses
31 7월 2024 - 3:21AM
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 iShares® Silver Trust |
Issuer |
Royal Bank of Canada (“RBC”) |
Principal Amount |
$10.00 per unit |
Term |
Approximately one year |
Market Measure |
iShares® Silver Trust (Bloomberg symbol: “SLV”) |
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 |
[$1.80 to $2.40] per unit, a return of [18.00% to 24.00%] 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/
000095010324011063/dp215383_424b2-baml15.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 commodity 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 commodity 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 any rights with respect to the commodity held by the Market Measure, and you will not be entitled to receive securities or
dividends or other distributions by the Market Measure. |
| · | While we, MLPF&S, BofAS or our respective affiliates may
from time to time own shares of the Market Measure, we, MLPF&S, BofAS and our respective affiliates do not control the Market Measure,
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 commodity 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 price of the commodity
may be adversely affected, sometimes materially. |
| · | If the liquidity of the commodity held by the Market Measure
is limited, the value of the Market Measure and, therefore, the return on the notes would likely be impaired. |
| · | Suspension or disruptions
of market trading in the commodity held by the Market Measure may adversely affect the value of your notes. |
| · | The notes will not be
regulated by the U.S. Commodity Futures Trading Commission. |
| · | 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. |
| · | Single commodity prices tend to be more volatile than, and may
not correlate with, the prices of commodities generally. |
| · | Silver prices are characterized by high and unpredictable volatility,
which could lead to high and unpredictable volatility in the Market Measure. |
| · | The value of the Market Measure may not fully replicate the
price of silver. |
| · | There are risks relating to commodities trading on the
London Bullion Market Association. |
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) |
$12.10(2) |
21.00% |
3.00% |
$12.10 |
21.00% |
5.00% |
$12.10 |
21.00% |
10.00% |
$12.10 |
21.00% |
20.00% |
$12.10 |
21.00% |
21.00% |
$12.10 |
21.00% |
50.00% |
$12.10 |
21.00% |
100.00% |
$12.10 |
21.00% |
| (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 $2.10 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.
Royal Bank of Canada (NYSE:RY)
과거 데이터 주식 차트
부터 7월(7) 2024 으로 8월(8) 2024
Royal Bank of Canada (NYSE:RY)
과거 데이터 주식 차트
부터 8월(8) 2023 으로 8월(8) 2024