加拿大皇家银行美股招股说明书(2026-02-23版)

Royal Bank of Canada$1,880,000Leveraged Basket-Linked Notes, due February 21, 2030 The notes will not bear interest.The amount that you will be paid on your notes on the stated maturity date (February21, 2030, subject to adjustment) is based on the performance of a weighted basket (the “basket”) comprised of the EUROSTOXX 50®Index (40.00% weighting), the TOPIX®Index (25.00% weighting), the FTSE®100 Index (17.00% weighting),the Swiss Market Index (11.00% weighting) and the S&P®/ASX 200 Index (7.00% weighting) (each a “basket underlier”)as measured from the trade date (February 19, 2026) to and including the determination date (February 19, 2030, subjectto adjustment). The initial basket level is 100, and the final basket level will equal the sum of the following, calculated foreach basket underlier: (i) the final underlier level for that basket underlierdivided bythe initial underlier level for thatbasket underlier (6,059.62 with respect to the EURO STOXX 50®Index, 3,852.09 with respect to the TOPIX®Index,10,627.04 with respect to the FTSE®100 Index, 13,799.59 with respect to the Swiss Market Index and 9,086.165 withrespect to the S&P®/ASX 200 Index)times(ii) the initial weighted value of that basket underlier. If the final basket level onthe determination date is greater than the initial basket level, the return on your notes will be positive.However, if thefinal basket level is less than the initial basket level, the return on your notes will be negative. You could loseyour entire investment in the notes. To determine your payment at maturity, we will calculate the basket return, which is the percentage increase or decreasein the final basket level from the initial basket level. On the stated maturity date, for each $1,000 principal amount of notes,you will receive an amount in cash equal to:if the basket return ispositive(the final basket level isgreater thanthe initial basket level), thesumof (i) $1,000plus (ii) theproductof (a) $1,000times(b) the upside participation rate (173%)times(c) the basket return; orif the basket return iszeroornegative(the final basket level isequal toorless thanthe initial basket level), thesumof(i) $1,000plus(ii) theproductof (a) $1,000times(b) the basket return.If the basket return is negative, this amountwill be less than $1,000 and could be zero. The foregoing is only a brief summary of the terms of your notes. You should read the additional disclosure provided in this pricing supplement so that you may better understand the terms and risks of your investment.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 $958.77 per $1,000 principal amount of notes and is less than the original issue price. The market value of thenotes at any time will reflect many factors, cannot be predicted with accuracy and may be less than this amount. Wedescribe the determination of the initial estimated value in more detail below.Declines in one basket underlier may offset increases in the other basket underliers. Due to the unequal weighting of each basket underlier, the performances of the EURO STOXX 50®Index and the TOPIX®Index willhave a significantly larger impact on your return on the notes than the performance of the FTSE®100 Index, theSwiss Market Index or the S&P®/ASX 200 Index.Your investment in the notes involves certain risks, including, among other things, our credit risk. See the section “Selected Risk Factors” beginning on page PS-11 of this pricing supplement.Original issue date:February 24, 2026Original issue price:100.00% of the principal amountUnderwriting discount:3.47% of the principal amountNet proceeds to the issuer:96.53% of the principalamountSee “Supplemental Plan of Distribution (Conflicts of Interest)” on page PS-19 of this pricing supplement. The original issue price, underwriting discount and net proceeds to the issuer listed above relate to the notes we sell initially. We may decide to sell additional notes after the date of this pricing supplement, at issue prices and withunderwriting discounts and net proceeds that differ from the amounts set forth above. The return (whether positive ornegative) on your investment in the notes will depend in part on the issue price you pay for such notes.None of the Securities and Exchange Commission (the “SEC”), any state securities commission or any other regulatory body has approved or disapproved of the notes or passed upon the adequacy or accuracy of this pricing supplement. Anyrepresentation to the contrary is a criminal offense. The notes will not constitute deposits insured by the Canada DepositInsurance Corporation, the U.S. Federal Deposit Insurance Corporation or any other Canadian or U.S. governmentalagency or instrumentality. The notes are not bail-inable notes and are not subject to conversion into our common sharesunder subsection 39.2(2.3) of the Canada Deposit Insurance Corporation Act.RBC Capital Markets, LLC Pricin