# EDGAR Filing Document

**Accession Number:** 0001000275
**File Stem:** 0001214659-25-015462
**Filing Date:** 2025-10
**Character Count:** 8138
**Document Hash:** b62987c271137c7f9cb88fecc62d8360
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001214659-25-015462.hdr.sgml**: 20251029

**ACCESSION NUMBER**: 0001214659-25-015462

**CONFORMED SUBMISSION TYPE**: FWP

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20251029

**DATE AS OF CHANGE**: 20251028

**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:** 251426451

**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

**Filed pursuant to Rule 433**

**Registration No. 333-275898**<br>

![](rbclogo_ts-sc.jpg)

**ROYAL BANK OF CANADA**

**MEDIUM-TERM NOTES, SERIES J**

**$500,000,000**

**SENIOR FLOATING RATE NOTES, DUE NOVEMBER 3, 2028**

**FINAL TERM SHEET**

**DATED OCTOBER 28, 2025**

**Terms and Conditions**

---

| | |
|:---|:---|
| **Issuer:** | Royal Bank of Canada |
| **Title of the Series:** | Senior Floating Rate Notes, due November 3, 2028 (the "Notes") |
| **Principal Amount:** | $500000000 |
| **Issue Price:** | 100.000% |
| **Trade Date:** | October 28, 2025 |
| **Settlement Date (T+4)<sup>1</sup>:** | November 3, 2025 |
| **Maturity Date:** | November 3, 2028 |
| **Minimum Denomination:** | $2,000 and multiples of $1,000 |
| **Interest Rate:** | Base Rate plus 70 bps payable and reset quarterly. |
| **Base Rate:** | USD Compounded SOFR Index Rate |
| **Interest Payment Dates:** | Quarterly on each February 3, May 3, August 3, and November 3, beginning February 3, 2026. |
| **Payment Convention:** | Modified following business day convention, adjusted. |
| **Interest Payment Determination <br> Date:** | The date that is two U.S. Government Securities Business Days preceding each Interest Payment Date (or in the final Interest Period, preceding the Maturity Date, or in the case of the redemption of any Notes, preceding the applicable redemption date). |

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_____________________________

<sup>1</sup> Under Rule 15c6-1 of the Securities Exchange Act of 1934, trades in the secondary market generally are required to settle no later than one business day after the trade date, unless the parties to such trade expressly agree otherwise at the time of the trade. Accordingly, purchasers who wish to trade on any date more than one business day prior to delivery of the Notes will be required, by virtue of the fact that the Notes initially will settle in four business days (T+4), to specify alternative settlement arrangements to prevent a failed settlement.

---

| | |
|:---|:---|
| **Interest Period:** | Each quarterly period from, and including, an Interest Payment Date (or, in the case of the first Interest Period, November 3, 2025) to, but excluding, the next Interest Payment Date (or, in the case of the final Interest Period, the redemption date or the Maturity Date). |
| **Observation Period:** | In respect of each Interest Period, the period from, and including, the date two U.S. Government Securities Business Days preceding the first date in such Interest Period to, but excluding, the date two U.S. Government Securities Business Days preceding the Interest Payment Date for such Interest Period (or in the final Interest Period, preceding the Maturity Date, or in the case of the redemption of any Notes, preceding the applicable redemption date). |
| **Business Days:** | Any weekday that is a U.S. Government Securities Business Day and is not a legal holiday in New York or Toronto and is not a date on which banking institutions in those cities are authorized or required by law or regulation to be closed. |
| **U.S. Government Securities <br> Business Day:** | Any day except for a Saturday, a Sunday or a day on which the Securities Industry and Financial Markets Association recommends that the fixed income departments of its members be closed for the entire day for purposes of trading in U.S. government securities. |
| **Day Count Fraction:** | Actual / 360 |
| **Listing:** |  |
| **Optional Par Call Redemption:** | The Issuer may redeem the notes at its option (i) in whole, but not in part, on November 3, 2027 (the date that is one year prior to the Maturity Date) or (ii) in whole or in part, at any time and from time to time on or after October 4, 2028 (the date that is 30-days prior to the Maturity Date), at a redemption price equal to 100% of the principal amount of the notes to be redeemed plus accrued and unpaid interest thereon to, but excluding, the redemption date. Notice of any redemption will be mailed (or otherwise transmitted in accordance with the depositary's procedures) not less than 5 days nor more than 30 days before the redemption date to each holder of notes to be redeemed. |
| **Canadian Bail-in Powers <br> Acknowledgment:** | The Notes are subject to bail-in conversion under the Canadian bail-in regime. |
| **Fees:** | 0.10% |
| **CUSIP / ISIN:** | 78017DAP3/ US78017DAP33 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Lead Managers and Joint Book<br> Runners:**<br>| RBC Capital Markets, LLC<br> Goldman Sachs & Co. LLC<br> Fifth Third Securities, Inc.<br> KeyBanc Capital Markets Inc.<br> Santander US Capital Markets LLC<br> Standard Chartered Bank |

---

---

| | |
|:---|:---|
| **Co-Managers:** | BNY Mellon Capital Markets, LLC<br> Cabrera Capital Markets LLC<br> CaixaBank S.A.<br> Capital One Securities, Inc.<br> Citizens JMP Securities, LLC<br> Desjardins Securities Inc.<br> FHN Financial Securities Corp.<br> Huntington Securities, Inc.<br> M&T Securities, Inc.<br> Regions Securities LLC<br> R. Seelaus & Co., LLC |

---

**Royal Bank of Canada (the "Issuer") has filed a registration statement (including a prospectus supplement and a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read those documents and the other documents that the Issuer has filed with the SEC for more complete information about the Issuer and this offering. You may obtain these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the lead managers will arrange to send you the pricing supplement, the prospectus supplement, and the prospectus if you request them by contacting RBC Capital Markets, LLC toll free at 1-866-375-6829, Goldman Sachs & Co. LLC toll free at 1-866-471-2526, Fifth Third Securities, Inc. toll free at 1-866-531-5353, KeyBanc Capital Markets Inc. toll free at 1-866-227-6479, Santander US Capital Markets LLC toll free at 1-855-403-3636, and Standard Chartered Bank toll free at +44-2078-855739.**