Registration Statement No. 333-275898
Filed Pursuant to Rule 433

 

MARKET INDEX TARGET-TERM SECURITIES® (MITTS®)  

 

 

Market Index Target-Term Securities® Linked to an International Equity Index Basket
Issuer Royal Bank of Canada (“RBC”). References on this page to “we,” “us” or “our” mean RBC.
Principal Amount $10.00 per unit
Term Approximately 5 years
Market Measure An international equity index basket composed of the EURO STOXX 50® Index (Bloomberg symbol: “SX5E”), the FTSE® 100 Index (Bloomberg symbol: “UKX”), the Nikkei Stock Average Index (Bloomberg symbol: “NKY”), the Swiss Market Index (Bloomberg symbol: “SMI”), the S&P®/ASX 200 Index (Bloomberg symbol: “AS51”) and the FTSE® China 50 Index (Bloomberg symbol: “XIN0I”).  Each Basket Component is a price return index. The EURO STOXX 50® Index will be given an initial weight of 40.00%, each of the FTSE® 100 Index and the Nikkei Stock Average Index will be given an initial weight of 20.00%, each of the Swiss Market Index and the S&P®/ASX 200 Index will be given an initial weight of 7.50% and the FTSE® China 50 Index will be given an initial weight of 5.00%.
Payout Profile at Maturity

·                     

[115.00% to 120.00%] participation in increases in the Market Measure

·                     

If the Market Measure is flat or decreases, payment at maturity will be the Minimum Redemption Amount.

Participation Rate [115.00% to 120.00%], to be determined on the pricing date
Minimum Redemption Amount $10.00 per unit
Preliminary Offering Documents https://www.sec.gov/Archives/edgar/data/1000275/000095010325003010/dp225625_424b2-mlzuj.htm
Exchange Listing No

You should read the relevant Preliminary Offering Documents before you invest. Click on the Preliminary Offering Documents hyperlink above or call your Financial Advisor for a hard copy.

Risk Factors

Please see the Preliminary Offering Documents for a description of certain risks related to this investment, including, but not limited to, the following:

· Depending on the performance of the Market Measure as measured shortly before the maturity date, you may receive only the principal amount of your notes.
· Your return on the notes may be less than the yield you could earn by owning a conventional fixed or floating rate debt security of comparable maturity.
· Payments on the notes are subject to our credit risk, and actual or perceived changes in our creditworthiness are expected to affect the value of the notes.
· Your investment return may be less than a comparable investment directly in the securities included in the Basket Components.
· The initial estimated value of the notes is only an estimate, determined as of a particular point in time by reference to our and our affiliates’ pricing models.
· The public offering price you pay for the notes will exceed the initial estimated value.
· The initial estimated value does not represent a minimum or maximum price at which we, MLPF&S, BofAS or any of our affiliates would be willing to purchase your notes in any secondary market (if any exists) at any time.
· A trading market is not expected to develop for the notes.
· Our business, hedging and trading activities, and those of MLPF&S, BofAS and our respective affiliates (including trades in the securities included in the Basket Components), and any hedging and trading activities we, MLPF&S, BofAS or our respective affiliates engage in for our clients’ accounts, may affect the market value and return of the notes and may create conflicts of interest with you.
· There may be potential conflicts of interest involving the calculation agent, which is BofAS.
· Changes in the level of one Basket Component may be offset by changes in the levels of the other Basket Components.
· The index sponsors may adjust each Basket Component in a way that affects its level, and the index sponsors have no obligation to consider your interests.
· You will have no rights of a holder of the securities included in the Basket Components, and you will not be entitled to receive securities or dividends or other distributions by the issuers of those securities.
· While we, MLPF&S, BofAS or our respective affiliates may from time to time own the securities included in the Basket Components, we, MLPF&S, BofAS and our respective affiliates do not control the issuers of those securities, and have not verified any disclosure made by any other company.
· Your return on the notes and the value of the notes may be affected by exchange rate movements and factors affecting the international securities markets, specifically changes in the countries represented by the Basket Components.
· You may be required to recognize taxable income on the notes prior to maturity.

Final terms will be set on the pricing date within the given range for the specified Market-Linked Investment. Please see the Preliminary Offering Documents for complete product disclosure, including related risks and tax disclosure.

 

 

 

The graph above and the table below reflect the hypothetical return on the notes, based on the terms contained in the table to the left (using the mid-point for any range(s)). The graph and the table have been prepared for purposes of illustration only and do not take into account any tax consequences from investing in the notes.

 

 

Hypothetical Percentage Change from the Starting Value to the Ending Value Hypothetical Redemption Amount per Unit Hypothetical Total Rate of Return on the Notes
-100.00% $10.0000 0.000%
-50.00% $10.0000 0.000%
-20.00% $10.0000 0.000%
-10.00% $10.0000 0.000%
-6.00% $10.0000 0.000%
-3.00% $10.0000 0.000%
0.00% $10.0000(1) 0.000%
1.00% $10.1175 1.175%
2.00% $10.2350 2.350%
3.00% $10.3525 3.525%
10.00% $11.1750 11.750%
20.00% $12.3500 23.500%
30.00% $13.5250 35.250%
40.00% $14.7000 47.000%
50.00% $15.8750 58.750%
60.00% $17.0500 70.500%

 

(1)       

The Redemption Amount per unit will not be less than the Minimum Redemption Amount.

 

 

RBC has filed a registration statement (including a product supplement, a prospectus supplement and a 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 RBC has filed with the SEC, for more complete information about RBC and this offering. You may get these documents without cost by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, RBC, any agent, or any dealer participating in this offering will arrange to send you these documents if you so request by calling toll-free 1-800-294-1322.

 

 

 

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