Form FWP - Filing under Securities Act Rules 163/433 of free writing prospectuses
August 02 2024 - 2:36PM
Edgar (US Regulatory)
Auto-Callable Enhanced Return Dual Directional Barrier
Notes
Linked to the Common Stock of Tesla, Inc.
Due August 31, 2027
|
| · | Call Feature — If, on the Call Observation Date, the closing value of the Underlier is greater than or equal to the Call
Value, the Notes will be automatically called for 121.50% of their principal amount. No further payments will be made on the Notes. |
| · | Enhanced Return Potential — If the Notes are not automatically called and the Final Underlier Value is greater than the
Initial Underlier Value, at maturity, investors will receive a return equal to at least 150% of the Underlier Return (to be determined
on the Trade Date). |
| · | Absolute Value Return — If the Notes are not automatically called and the Final Underlier Value is less than or equal
to the Initial Underlier Value, but is greater than or equal to the Barrier Value, at maturity, investors will receive a one-for-one positive
return equal to the absolute value of the Underlier Return. |
| · | Principal at Risk — If the Notes are not automatically called and the Final Underlier Value is less than the Barrier
Value, at maturity, investors will lose 1% of the principal amount of their Notes for each 1% that the Final Underlier Value is less than
the Initial Underlier Value. |
KEY TERMS |
Issuer: |
Royal Bank of Canada (“RBC”) |
CUSIP: |
78017GGS4 |
Underlier: |
The common stock of Tesla, Inc. (Bloomberg symbol “TSLA UW”) |
Trade Date: |
August 26, 2024 |
Issue Date: |
August 29, 2024 |
Valuation Date: |
August 26, 2027 |
Maturity Date: |
August 31, 2027 |
Call Feature: |
If, on the Call Observation Date, the closing value of the Underlier is greater than or equal to the Call Value, the Notes will be automatically called. Under these circumstances, investors will receive on the Call Settlement Date per $1,000 principal amount of Notes an amount equal to $1,215 (121.50% of the principal amount). No further payments will be made on the Notes. |
Call Value: |
100% of the Initial Underlier Value |
Call Observation Date: |
August 27, 2025 |
Call Settlement Date: |
September 2, 2025 |
Payment at Maturity: |
If
the Notes are not automatically called, investors will receive on the Maturity Date per $1,000 principal amount of Notes:
· If
the Final Underlier Value is greater than the Initial Underlier Value, an amount equal to:
$1,000
+ ($1,000 × Underlier Return × Participation Rate)
· If
the Final Underlier Value is less than or equal to the Initial Underlier Value, but is greater than or equal to
the Barrier Value, an amount equal to:
$1,000
+ (-1 × $1,000 × Underlier Return)
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 40%.
· If
the Final Underlier Value is less than the Barrier Value, an amount equal to:
$1,000
+ ($1,000 × Underlier Return)
If the Notes are not automatically called and the
Final Underlier Value is less than the Barrier Value, you will lose a substantial portion or all of your principal amount at maturity.
|
KEY TERMS (continued) |
Participation Rate: |
At least 150% (applicable only at maturity if the Notes are not automatically called), to be determined on the Trade Date |
Barrier Value: |
60% of the Initial Underlier Value |
Underlier Return: |
Final Underlier Value – Initial Underlier Value
Initial Underlier Value |
Initial Underlier Value: |
The closing value of the Underlier on the Trade Date |
Final Underlier Value: |
The closing value of the Underlier on the Valuation Date |
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/1000275/000095010324011465/dp215945_424b2-us1407tsla.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 $905.00 and $955.00 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.
|
|
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 Portion or All of the Principal Amount at Maturity. |
| · | Your Potential for a Positive Return from Depreciation of the Underlier Is Limited. |
| · | 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. |
| · | The Notes Are Subject to an Automatic Call. |
| · | If the Notes Are Automatically Called, Your Potential Return Is Limited. |
| · | 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 Underlier 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 the 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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