Registration Statement No. 333-275898
Filed Pursuant to Rule 433
| 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 five 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/1000275/000095010325004070/
dp226680_424b2-mlzwt.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. |