加拿大皇家银行美股招股说明书(2026-06-01版)

The information in this preliminary pricing supplement is not complete and may be changed. Preliminary Pricing Supplement Auto-Callable Contingent Coupon Barrier NotesLinked to the Least Performing of Three Underliers,Due July 29, 2027 Subject to Completion: Dated May 29, 2026 Pricing Supplement dated June __, 2026 to the Prospectusdated December 20, 2023, the Prospectus Supplementdated December 20, 2023, the Underlying Supplement No.1A dated May 16, 2024 and the Product Supplement No. Royal Bank of Canada Royal Bank of Canada is offering Auto-Callable Contingent Coupon Barrier Notes (the “Notes”) linked to the performanceof the least performing of the Nasdaq-100 Index®, the Russell 2000®Index and the S&P 500® “Underlier”). Contingent Coupons— If the Notes have not been automatically called, investors will receive a ContingentCoupon on a monthly Coupon Payment Date at a rate of at least 8.50% per annum (to be determined on theTrade Date) if the closing value of each Underlier is greater than or equal to its Coupon Threshold (75% of itsInitial Underlier Value) on the immediately preceding Coupon Observation Date. You may not receive any Call Feature— If, on any monthly Call Observation Date beginning approximately six months following the TradeDate, the closing value of each Underlier is greater than or equal to its Initial Underlier Value, the Notes will beautomatically called for 100% of their principal amountplusthe Contingent Coupon otherwise due. No further Contingent Return of Principal at Maturity— If the Notes are not automatically called and the Final UnderlierValue of the Least Performing Underlier is greater than or equal to its Barrier Value (75% of its Initial UnderlierValue), at maturity, investors will receive the principal amount of their Notesplusthe Contingent Coupon otherwisedue. If the Notes are not automatically called and the Final Underlier Value of the Least Performing Underlier is The Notes will not be listed on any securities exchange.CUSIP:78017U4M9 Investing in the Notes involves a number of risks. See “Selected Risk Considerations” beginning on page P-7 of this pricing supplement and “Risk Factors” in the accompanying prospectus, prospectus supplement and product supplement. 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. governmental (1)We or one of our affiliates may pay varying selling concessions of up to $20.00 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 $980.00 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 $909.00 and $959.00 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. Auto-Callable Contingent CouponBarrier Notes Linked to the Least KEY TERMS The information in this “Key Terms” section is qualified by any more detailed information set forth in this pricingsupplementand in the accompanying prospectus,prospectus supplement,underlying supplement and productsupplement. Issuer:Underwriter:Minimum Investment: Royal Bank of CanadaRBC Capital Markets, LLC (“RBCCM”)$1,000 and minimum denominations of $1,000 in excess thereofThe Nasdaq-100 Index®(the “NDX Index”), the Russell 2000®and the S&P 500®Index (the “SPX Index”) decimal places for the NDX Index and the SPX Index and rounded to three decimalplaces for the RTY Index)June 25, 2026 Trade Date:Issue Date:Valuation Date:* June 30, 2026July 26, 2027July 29, 2027 If the Notes have not been automatically called, investors will receive a ContingentCoupon on a Coupon Payment Date if the closing value of each Underlier isgreater No Contingent Coupon will be payable on a Coupon Payment Date if the closing value ofany Underlier is less than its Coupon Threshold on the immediately preceding CouponObservation Date. Accordingly, you may not receive a Contingent Coupon on one ormore Coupon Payment Dates during the term of the Notes. If payable, at least $7.083 per $1,000 principal amount of Notes (corresponding to a rateof at least 0.7083% per month or at least 8.50% per annum), to be determined on theTrade Date Contingent Coupon: Call Feature: equal toits Initial Underlier Value, the Notes will be automatically called. Under t