Royal Bank of Canada

Notes Linked to a Basket of Closed-End Funds, due June 21, 2024

Global Medium-Term Notes, Series I

CUSIPS: 78015QAX9 and 78015QAY7

(the “notes”)

This document (the “supplement”) supplements each Note Prospectus. Capitalized terms used but not defined in this supplement have the meanings set forth in each Note Prospectus.

The Initial Price for each Basket Component was determined after the close of trading on June 22, 2022, in the manner contemplated by each Note Prospectus. The Initial Price for each Basket Component is set forth in the table below:

Documentation

You should read this supplement, together with the documents listed below, which together contain the terms of the notes and supersede all prior or contemporaneous oral statements as well as any other written materials. You should carefully consider, among other things, the matters set forth in the section "Selected Risk Considerations" beginning on page P-8 of the applicable Pricing Supplement, and “Additional Risk Factors Specific to the Notes” beginning on page PS-6 of product supplement ERN-ETF-1, and on page S-2 of the prospectus supplement, as the notes involve risks not associated with conventional debt securities. We urge you to consult your investment, legal, tax, accounting, and other advisors before you make any invest decision relating to the notes.

You may access these documents on the SEC website at www.sec.gov as follows:

Pricing Supplement relating to CUSIP 78015QAX9, dated June 17, 2022:

Pricing Supplement relating to CUSIP 78015QAY7, dated June 17, 2022:

Product Prospectus Supplement ERN-ETF-1 dated March 3, 2022:

Prospectus Supplement dated September 14, 2021:

Prospectus dated September 14, 2021:

Our Central Index Key, or CIK, on the SEC website is 1000275. Unless otherwise indicated or unless the context requires otherwise, all references in this supplement to “we,” “us,” “our,” or similar references are to Royal Bank of Canada.

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