加拿大皇家银行美股招股说明书(2026-02-26版)

Registration Statement No. 333-275898Filed Pursuant to Rule 424(b)(2) The information in this preliminary pricing supplement is not complete and may be changed. Preliminary Pricing SupplementSubject to Completion: Dated February 25, 2026 Auto-Callable Contingent Coupon Geared BufferNotes with Memory CouponLinked to the Class A Common Stock of Vertiv Pricing Supplement dated March __, 2026 to theProspectus dated December 20, 2023, the ProspectusSupplement dated December 20, 2023 and the Product Royal Bank of Canada Royal Bank of Canada is offering Auto-Callable Contingent Coupon Geared Buffer Notes with Memory Coupon (the“Notes”) linked to the performance of the Class A common stock of Vertiv Holdings Co (the “Underlier”). Contingent Coupons with Memory Feature— If the Notes have not been automatically called, investors willreceive a Contingent Coupon on a quarterly Coupon Payment Date at a rate of 17.50% per annum if the closingvalue of the Underlier is greater than or equal to the Coupon Threshold (65% of the Initial Underlier Value) on theimmediately preceding Coupon Observation Date. A Contingent Coupon that is not payable on a Coupon Payment Call Feature— If, on any quarterly Call Observation Date, the closing value of the Underlier is greater than orequal to the Initial Underlier Value, the Notes will be automatically called for 100% of their principal amountplus the Contingent Coupon and any unpaid Contingent Coupons otherwise due. No further payments will be made on Contingent Return of Principal at Maturity— If the Notes are not automatically called and the Final UnderlierValue is greater than or equal to the Buffer Value (65% of the Initial Underlier Value), at maturity, investors willreceive the principal amount of their Notesplusthe Contingent Coupon and any unpaid Contingent Couponsotherwise due. If the Notes are not automatically called and the Final Underlier Value is less than the Buffer Value, Any payments on the Notes are subject to our credit risk.The Notes will not be listed on any securities exchange.CUSIP:78017UJQ4 Investing in the Notes involves a number of risks. See “Selected Risk Considerations” beginning on page P-7 ofthis pricing supplement and “Risk Factors” in the accompanying prospectus, prospectus supplement and None of the Securities and Exchange Commission (the “SEC”), any state securities commission or any other regulatorybody 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. governmental Price to publicUnderwriting discounts and commissions Proceeds to Royal Bank of Canada(1) We or one of our affiliates may pay varying selling concessions of up to $10.00 per $1,000 principal amount of Notes inconnection with the distribution of the Notes to other registered broker-dealers. Certain dealers who purchase the Notesfor sale to certain fee-based advisory accounts may forgo some or all of their underwriting discount or selling concessions.The public offering price for investors purchasing the Notes in these accounts may be between $990.00 and $1,000.00 per The initial estimated value of the Notes determined by us as of the Trade Date, which we refer to as the initial estimatedvalue, is expected to be between $932.50 and $982.50 per $1,000 principal amount of Notes and will be less than thepublic offering price of the Notes. The final pricing supplement relating to the Notes will set forth the initial estimated value. RBC Capital Markets, LLC Auto-Callable Contingent CouponGeared Buffer Notes with Memory KEY TERMS The information in this “Key Terms” section is qualified by any more detailed information set forth in this pricingsupplement and in the accompanying prospectus, prospectus supplement and product supplement. Issuer:Underwriter: RBC Capital Markets, LLC (“RBCCM”) $1,000 and minimum denominations of $1,000 in excess thereof The Class A common stock of Vertiv Holdings Co Trade Date:Issue Date:Valuation Date:* If the Notes have not been automatically called, investors will receive a ContingentCoupon on a Coupon Payment Date if the closing value of the Underlier isgreater thanor equal tothe Coupon Threshold on the immediately preceding Coupon Observation If a Contingent Coupon is not payable on any Coupon Payment Date, it will be paid onany later Coupon Payment Date on which a Contingent Coupon is payable, if any,together with the payment otherwise due on that later date. For the avoidance of doubt, once a previously unpaid Contingent Coupon has been paid on a later Coupon Payment the Underlier is less than the Coupon Threshold on the immediately preceding CouponObservation Date. Accordingly, you may not receive a Contingent Coupon on one ormore Coupon Payment Date