Royal Bank of Canada filed a free writing prospectus on November 6, 2026, disclosing the summary terms of Contingent Income Auto-Callable Securities due November 16, 2029, linked to the common stock of Amazon.com, Inc., with a stated principal amount of $1,000 per security.

Key Highlights

  • Issuer and underlier: Royal Bank of Canada is the issuer; the sole underlier is Amazon.com, Inc. common stock (Bloomberg symbol: "AMZN UW").
  • Pricing and maturity: The pricing date is November 13, 2026, with an original issue date of November 18, 2026, and a maturity date of November 16, 2029.
  • Contingent quarterly coupon: $27.35 per security (2.735% of stated principal, or 10.94% per annum) is payable only when the underlier closes at or above 65% of its initial value on a determination date.
  • Downside threshold: Set at 65% of the initial underlier value; if breached at maturity, investors receive the stated principal amount multiplied by the underlier performance factor, potentially losing more than 35% or all principal.
  • Auto-call feature: Securities are automatically redeemed if the underlier closes at or above 100% of its initial value on any quarterly redemption determination date, with the early redemption payment equal to stated principal plus the contingent quarterly coupon otherwise due.
  • Initial estimated value: Expected to be between $922.50 and $972.50 per security, which the filing states will be less than the public offering price.
  • CUSIP / ISIN: 78018DRR0 / US78018DRR07.

Structure and Payment Terms of Royal Bank of Canada's November 2026 Amazon-Linked Securities

According to the filing, Royal Bank of Canada is offering principal-at-risk securities with a stated principal amount of $1,000 per security. The securities pay a contingent quarterly coupon of $27.35 only on determination dates when the closing value of Amazon.com common stock is at or above the downside threshold value, which is set at 65% of the initial underlier value. If the underlier closes below that threshold on a given determination date, no coupon is paid for that period. The filing notes that the securities do not guarantee return of any principal and that investors will not participate in any appreciation in the value of the underlier.

The auto-callable feature operates quarterly: if the underlier's closing value equals or exceeds 100% of its initial value on any determination date prior to the final one, the securities are automatically redeemed at the stated principal amount plus the contingent quarterly coupon otherwise due, and no further payments are made. The filing discloses that this feature may limit the investment term to approximately three months. At maturity, if the securities have not been redeemed and the final underlier value is below the downside threshold, the payment is calculated as the stated principal amount multiplied by the underlier performance factor (final underlier value divided by initial underlier value), meaning investors could lose more than 35% and possibly all of their principal.

The filing also discloses that all payments on the securities are subject to the credit risk of Royal Bank of Canada, a Canadian multinational banking institution. The initial estimated value of between $922.50 and $972.50 per security reflects the issuer's internal valuation and is stated to be less than the public offering price. The filing identifies RBCCM as the calculation agent and notes that this role may create conflicts of interest. The U.S. federal income tax consequences are described in the filing as uncertain.

What Was Disclosed

Royal Bank of Canada filed a free writing prospectus summarizing the terms of three-year auto-callable securities linked to Amazon.com common stock, covering the coupon structure, downside threshold, auto-call mechanics, estimated initial value range, CUSIP, and associated risk considerations.