Royal Bank of Canada

Market Linked Securities

Filed Pursuant to Rule 433

Registration Statement No. 333-275898

Market Linked Securities—Auto-Callable with Contingent Coupon and Contingent Downside

Principal at Risk Securities Linked to the Lowest Performing of the Nasdaq-100 Index®, the Russell 2000® Index and the S&P 500® Index due November 18, 2027

Term Sheet dated November 6, 2024

Summary of Terms

Issuer: Royal Bank of Canada
Market Measures: The Nasdaq-100 Index® (the “NDX Index”), the Russell 2000® Index (the “RTY Index”) and the S&P 500® Index (the “SPX Index”) (each an “Index,” and collectively “Indices”)
Pricing Date: November 15, 2024
Issue Date: November 20 2024
Final Calculation Day: November 15, 2027
Stated Maturity Date: November 18, 2027
Face Amount: $1,000 per security
Contingent Coupon Payment: On each contingent coupon payment date, you will receive a contingent coupon payment at a per annum rate equal to the contingent coupon rate if the closing value of the lowest performing Index on the related calculation day is greater than or equal to its coupon threshold value. Each “contingent coupon payment,” if any, will be calculated per security as follows: ($1,000 × contingent coupon rate)/4.
Contingent Coupon Payment Dates: Quarterly, on the third business day following each calculation day; provided that the contingent coupon payment date with respect to the final calculation day will be the stated maturity date.
Contingent Coupon Rate: At least 8.25% per annum, to be determined on the pricing date
Automatic Call: If the closing value of the lowest performing Index on any of the calculation days scheduled to occur from May 2025 to August 2027, inclusive, is greater than or equal to its starting value, the securities will be automatically called, and on the related call settlement date you will be entitled to receive a cash payment per security in U.S. dollars equal to the face amount plus a final contingent coupon payment.
Calculation Days: Quarterly, on the 15th day of each February, May, August, and November, commencing February 2025 and ending November 2027, provided that the November 2027 calculation day will be the final calculation day
Call Settlement Date: The contingent coupon payment date immediately following the applicable calculation day
Maturity Payment Amount (per security):

·

if the ending value of the lowest performing Index on the final calculation day is greater than or equal to its downside threshold value: $1,000; or

·

if the ending value of the lowest performing Index on the final calculation day is less than its downside threshold value:

$1,000 × performance factor of the lowest performing Index on the final calculation day

Lowest Performing Index: For any calculation day, the Index with the lowest performance factor on that calculation day
Performance Factor: With respect to an Index on any calculation day, its closing value on such calculation day divided by its starting value (expressed as a percentage).
Starting Value: For each Index, its closing value on the pricing date
Ending Value: For each Index, its closing value on the final calculation day
Coupon Threshold Value: For each Index, 75% of its starting value

Summary of Terms (continued)

Downside Threshold Value: For each Index, 75% of its starting value
Calculation Agent: RBC Capital Markets, LLC (“RBCCM”), an affiliate of the issuer
Denominations: $1,000 and any integral multiple of $1,000
Agent Discount: Up to 2.325%; dealers, including those using the trade name Wells Fargo Advisors (“WFA”), may receive a selling concession of up to 1.75% and WFS may pay 0.075% of the agent’s discount to WFA as a distribution expense fee. In addition, selected dealers may receive a fee of up to 0.35% for marketing and other services
CUSIP: 78017GXC0

Hypothetical Payout Profile (maturity payment amount)

If the securities are not automatically called prior to stated maturity and the ending value of the lowest performing Index on the final calculation day is less than its downside threshold value, you will lose more than 25%, and possibly all, of the face amount of your securities at stated maturity.

Any return on the securities will be limited to the sum of your contingent coupon payments, if any. You will not participate in any appreciation of any Index, but you will have full downside exposure to the lowest performing Index on the final calculation day if the ending value of that Index is less than the downside threshold value.

The issuer’s initial estimated value of the securities as of the pricing date is expected to be between $908.34 and $958.34 per $1,000 in principal amount, which is less than the public offering price. The final pricing supplement relating to the securities will set forth the issuer’s estimate of the initial value of the securities as of the pricing date. The market value of the securities at any time will reflect many factors, cannot be predicted with accuracy, and may be less than this amount. See “Estimated Value of the Securities” in the accompanying preliminary pricing supplement for further information.

Preliminary Pricing Supplement:
https://www.sec.gov/Archives/edgar/data/1000275/000095010324016039/dp220457_424b2-wfceln275bskt.htm

 

The securities have complex features and investing in the securities involves risks not associated with an investment in conventional debt securities. See “Selected Risk Considerations” in this term sheet and the accompanying preliminary pricing supplement and “Risk Factors” in the accompanying product supplement.

This introductory term sheet does not provide all of the information that an investor should consider prior to making an investment decision.

Investors should carefully review the accompanying preliminary pricing supplement, product supplement, prospectus supplement and prospectus before making a decision to invest in the securities.

NOT A BANK DEPOSIT AND NOT INSURED OR GUARANTEED BY THE FDIC OR ANY OTHER GOVERNMENTAL AGENCY