# EDGAR Filing Document

**Accession Number:** 0001000275
**File Stem:** 0000950103-25-009865
**Filing Date:** 2025-8
**Character Count:** 10076
**Document Hash:** d0c62851cc92b9a46ce9b736354f9a21
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000950103-25-009865.hdr.sgml**: 20250805

**ACCESSION NUMBER**: 0000950103-25-009865

**CONFORMED SUBMISSION TYPE**: FWP

**PUBLIC DOCUMENT COUNT**: 4

**FILED AS OF DATE**: 20250805

**DATE AS OF CHANGE**: 20250804

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ROYAL BANK OF CANADA
- **CENTRAL INDEX KEY:** 0001000275
- **STANDARD INDUSTRIAL CLASSIFICATION:** COMMERCIAL BANKS, NEC [6029]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 135357855
- **STATE OF INCORPORATION:** A6
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** FWP
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-275898
- **FILM NUMBER:** 251182178

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** ROYAL BANK PLAZA
- **STREET 2:** 200 BAY STREET
- **CITY:** TORONTO
- **PROVINCE COUNTRY:** A6
- **ZIP:** M5J 2J5
- **BUSINESS PHONE:** 212-437-9267

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** ROYAL BANK PLAZA
- **STREET 2:** 200 BAY STREET
- **CITY:** TORONTO
- **PROVINCE COUNTRY:** A6
- **ZIP:** M5J 2J5

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ROYAL BANK OF CANADA \
- **DATE OF NAME CHANGE:** 19950908
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ROYAL BANK OF CANADA
- **CENTRAL INDEX KEY:** 0001000275
- **STANDARD INDUSTRIAL CLASSIFICATION:** COMMERCIAL BANKS, NEC [6029]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 135357855
- **STATE OF INCORPORATION:** A6
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** FWP

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** ROYAL BANK PLAZA
- **STREET 2:** 200 BAY STREET
- **CITY:** TORONTO
- **PROVINCE COUNTRY:** A6
- **ZIP:** M5J 2J5
- **BUSINESS PHONE:** 212-437-9267

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** ROYAL BANK PLAZA
- **STREET 2:** 200 BAY STREET
- **CITY:** TORONTO
- **PROVINCE COUNTRY:** A6
- **ZIP:** M5J 2J5

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ROYAL BANK OF CANADA \
- **DATE OF NAME CHANGE:** 19950908

---

| | |
|:---|:---|
| ![](image_001.jpg) | ![](image_002.jpg) |
| **Enhanced Return Notes<br> Linked to a Basket of Ten Equity Securities<br> Due August 30, 2030** | **Enhanced Return Notes<br> Linked to a Basket of Ten Equity Securities<br> Due August 30, 2030** |

---

**PRODUCT CHARACTERISTICS**

&nbsp;&nbsp;&nbsp;&nbsp;· **Enhanced Return Potential** — If the Final Basket Value is greater than the Initial Basket Value, at maturity, investors
will receive a return equal to at least 105% of the Basket Return (to be determined on the Trade Date).

&nbsp;&nbsp;&nbsp;&nbsp;· **Return of Principal at Maturity** — If the Final Basket Value is less than or equal to the Initial Basket Value, at maturity,
investors will receive only the principal amount of their Notes, with no additional return.

---

| | |
|:---|:---|
| **KEY TERMS** | **KEY TERMS** |
| **Issuer:** | Royal Bank of Canada ("RBC") |
| **CUSIP:** | 78017PJR3 |
| **Basket Underliers:** | The common stock of Cisco Systems, Inc. (Bloomberg symbol "CSCO UW"), the common stock of Chevron Corporation (Bloomberg symbol "CVX UN"), the common stock of Duke Energy Corporation (Bloomberg symbol "DUK UN"), the common stock of The Coca-Cola Company (Bloomberg symbol "KO UN"), the common stock of Lockheed Martin Corporation (Bloomberg symbol "LMT UN"), the common stock of McDonald's Corporation (Bloomberg symbol "MCD UN"), the ordinary shares of Medtronic plc (Bloomberg symbol "MDT UN"), the common stock of PepsiCo, Inc. (Bloomberg symbol "PEP UW"), the common stock of The Southern Company (Bloomberg symbol "SO UN") and the common stock of Verizon Communications Inc. (Bloomberg symbol "VZ UN") |
| **Basket Weighting:** | With respect to each Basket Underlier: 1/10 |
| **Trade Date:** | August 27, 2025 |
| **Issue Date:** | August 29, 2025 |
| **Valuation Date:** | August 27, 2030 |
| **Maturity Date:** | August 30, 2030 |
| **Payment at Maturity:** | &nbsp;&nbsp;&nbsp;&nbsp; Investors will receive on the Maturity Date per $1,000 principal amount of Notes:<br> · If the Final Basket Value is ***greater than*** the Initial Basket Value, an amount equal to:<br> $1,000 + ($1,000 × Basket Return × Participation Rate)<br> · If the Final Basket Value is ***less than or equal to*** the Initial Basket Value: $1,000 |
| **Participation Rate:** | At least 105%, to be determined on the Trade Date |
| **Basket Return:** | <u>Final Basket Value – Initial Basket Value</u><br> Initial Basket Value |
| **Initial Basket Value:** | Set equal to 100 on the Trade Date |
| **Final Basket Value:** | 100 × [1 + (the sum of, for each Basket Underlier, its Basket Underlier Return *times* its Basket Weighting)] |

---

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| | |
|:---|:---|
| **KEY TERMS (*continued*)** | **KEY TERMS (*continued*)** |
| **Basket Underlier Return:** | With respect to each Basket Underlier:<br> <u>Final Basket Underlier Value – Initial Basket Underlier Value</u><br> Initial Basket Underlier Value |
| **Initial Basket Underlier Value:** | With respect to each Basket Underlier, the closing value of that Basket Underlier on the Trade Date |
| **Final Basket Underlier Value:** | With respect to each Basket Underlier, the closing value of that Basket Underlier on the Valuation Date |

---

**PAYOFF DIAGRAM**

![](image_003.jpg)

This document provides a summary of the terms of the Notes. Investors should carefully review the accompanying preliminary pricing supplement, product supplement, prospectus supplement and prospectus, as well as "Selected Risk Considerations" below, before making a decision to invest in the Notes:

[https://www.sec.gov/Archives/edgar/data/1000275/000095010325009728/dp232517_424b2-us2873mul.htm](https://www.sec.gov/Archives/edgar/data/1000275/000095010325009728/dp232517_424b2-us2873mul.htm)

The initial estimated value of the Notes determined by us as of the Trade Date, which we refer to as the initial estimated value, is expected to be between $897.50 and $947.50 per $1,000 principal amount of Notes and will be less than the public offering price of the Notes. We describe the determination of the initial estimated value in more detail in the accompanying preliminary pricing supplement.

---

| | |
|:---|:---|
| ![](image_001.jpg) | ![](image_002.jpg) |

---

**Selected Risk Considerations**

An investment in the Notes involves significant risks. We urge you to consult your investment, legal, tax, accounting and other advisers before you invest in the Notes. Some of the risks that apply to an investment in the Notes are summarized below, but we urge you to read also the "Selected Risk Considerations" section of the accompanying preliminary pricing supplement and the "Risk Factors" sections of the accompanying prospectus, prospectus supplement and product supplement. You should not purchase the Notes unless you understand and can bear the risks of investing in the Notes.

&nbsp;&nbsp;&nbsp;&nbsp;· You May Not Receive a Positive Return on the Principal Amount at Maturity.

&nbsp;&nbsp;&nbsp;&nbsp;· The Notes Do Not Pay Interest, and Your Return on the Notes May Be Lower Than the Return on a Conventional Debt Security of Comparable
Maturity.

&nbsp;&nbsp;&nbsp;&nbsp;· Payments on the Notes Are Subject to Our Credit Risk, and Market Perceptions about Our Creditworthiness May Adversely Affect the Market
Value of the Notes.

&nbsp;&nbsp;&nbsp;&nbsp;· Changes in the Value of One Basket Underlier May Be Offset by Changes in the Values of the Other Basket Underliers.

&nbsp;&nbsp;&nbsp;&nbsp;· Any Payment on the Notes Will Be Determined Based on the Closing Values of the Basket Underliers on the Dates Specified.

&nbsp;&nbsp;&nbsp;&nbsp;· You May Be Required to Recognize Taxable Income on the Notes Prior to Maturity.

&nbsp;&nbsp;&nbsp;&nbsp;· There May Not Be an Active Trading Market for the Notes; Sales in the Secondary Market May Result in Significant Losses.

&nbsp;&nbsp;&nbsp;&nbsp;· The Initial Estimated Value of the Notes Will Be Less Than the Public Offering Price.

&nbsp;&nbsp;&nbsp;&nbsp;· The Initial Estimated Value of the Notes Is Only an Estimate, Calculated as of the Trade Date.

&nbsp;&nbsp;&nbsp;&nbsp;· Our and Our Affiliates' Business and Trading Activities May Create Conflicts of Interest.

&nbsp;&nbsp;&nbsp;&nbsp;· RBCCM's Role as Calculation Agent May Create Conflicts of Interest.

&nbsp;&nbsp;&nbsp;&nbsp;· You Will Not Have Any Rights to Any Basket Underlier.

&nbsp;&nbsp;&nbsp;&nbsp;· The Notes Are Subject to Risks Relating to Non-U.S. Securities with Respect to the MDT Underlier.

&nbsp;&nbsp;&nbsp;&nbsp;· We May Accelerate the Notes If a Change-in-Law Event Occurs.

&nbsp;&nbsp;&nbsp;&nbsp;· Any Payment on the Notes May Be Postponed and Adversely Affected by the Occurrence of a Market Disruption Event.

&nbsp;&nbsp;&nbsp;&nbsp;· Anti-dilution Protection Is Limited, and the Calculation Agent Has Discretion to Make Anti-dilution Adjustments.

&nbsp;&nbsp;&nbsp;&nbsp;· Reorganization or Other Events Could Adversely Affect the Value of the Notes or Result in the Notes Being Accelerated.

**Royal Bank of Canada has filed a registration statement (including a product supplement, prospectus supplement and 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 we have filed with the SEC for more complete information about us and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, we, any agent or any dealer participating in this offering will arrange to send you those documents if you so request by calling toll-free at 1-877-688-2301.**

As used in this document, "Royal Bank of Canada," "we," "our" and "us" mean only Royal Bank of Canada. Capitalized terms used in this document without definition are as defined in the accompanying preliminary pricing supplement.

Registration Statement No. 333-275898; filed pursuant to Rule 433